A former Shreveport, La., insurance producer was arrested and issued a cease and desist order for allegedly misappropriating insurance funds, Louisiana Commissioner of Insurance Robert Wooley has announced.
John Michael Guevara, 47, was arrested by the State Police Fraud Unit and booked on four counts of misappropriation of funds. At the same time, Department of Insurance Fraud Unit investigators served Guevara with a cease and desist order charging him with collecting premiums from insureds and failing to remit the funds to the company while he was a licensed producer.
The C&D order states that Guevara reported to the company that he lost $2,021.73 in premiums collected from policyholders. It was later discovered that Guevara also had collected additional funds he did not remit to the company. The total premiums collected and not remitted totaled $2,587.47.
Department of Insurance records show that Guevara held a life and health insurance license from May 1988 until May 2004. He also held a property and casualty license from June 1988 until May 1997. Department records list his addresses as 2013 MacArthur Drive, Bldg. #2, Alexandria, and 3126 Cedar Creek, Shreveport.
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