Louisiana Commissioner of Insurance Robert Wooley announced that a Lafayette area insurance producer was arrested and issued a cease and desist order for allegedly misappropriating insurance funds.
Department of Insurance Fraud Unit investigators served Audrey Thibodeaux Davis, 45, with a C&D order and summary suspension of all insurance licenses at the time she was arrested by the State Police Insurance Fraud Unit. Davis is charged with allegedly misleading life insurance policyholders into signing cash surrender forms by falsely stating that the signature was needed to obtain a new or duplicate policy or a benefits document. The C&D further states that Davis intercepted the checks generated by the bogus cash surrender forms, forged the endorsements and deposited a total of over $11,000 into her personal bank account through the use of this scheme.
Davis held life and health and property and casualty insurance licenses from 2001 until the current action. Department records list her address as 484 Thelma Drive, Sunset, La.
“This sort of fraudulent activity serves as a reminder that you should never sign insurance forms without first closely reading and fully understanding exactly what you are signing,” Commissioner Wooley said.
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