The Louisiana Department of Insurance announced that a New Orleans-area bail bond agent was shut down on charges of operating without a valid license, alleged violations of the law involving personal surety bonds, and engaging in a number of other illegal activities.
According to Insurance Commissioner Robert Wooley, LDI Fraud Unit investigators served Stephen M. Ghergich, Jr., 70, D/B/A Steve’s Bail Bonds, 2741 Tulane Avenue, New Orleans, 70119, with a Cease and Desist Order.
The C&D enumerated a number of violations of the Louisiana Insurance Code including 1) acting as a bail bond agent on 138 bail bonds involving hundreds of thousands of dollars written since his license lapsed on May 1 of last year, and 2) allowing agents whose licenses had lapsed to write bonds for Steve’s Bail Bonds.
“All relevant information our Department fraud investigators uncover will be shared with other members of the Louisiana Insurance Fraud Task Force,” Commissioner Wooley said. “We not only want dishonest people out of the business of insurance; we want them prosecuted to the full extent of the law,” he added.
LDI records show that Ghergich held a valid bail bond license from 1965 until May 1, 2003.
Commissioner Wooley says that anyone who has information about any kind of suspected insurance fraud should call the Department of Insurance at (800) 259-5300, statewide, or (225) 342-5900. Names of callers can be held confidential upon request.
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