La. Agent Faces Theft, Fraud Charges

A Shreveport, La., insurance agent was arrested and issued a cease and desist order and summary suspension of his license for alleged felony theft and misappropriation of insurance premiums, Louisiana Commissioner of Insurance Jim Donelon announced May 24.

James Dock Stephens, Jr., 49, was ordered to cease and desist from engaging in the business of insurance, and his insurance license was suspended by members of the Louisiana Department of Insurance Fraud Unit. The C&D and summary suspension were served in conjunction with an arrest by members of the Louisiana State Police Fraud Unit who booked Stephens into the Caddo Parish Correctional Center in Shreveport.

The action comes after an investigation by Stephen’s employer found that his account was deficient in funds totaling over $3,500, which led to his termination in April 2004.

Department of Insurance records show that Stephens held a Life and Health license from February 2004 until the current action. Records list his residence address as 3601 Frederick St., Shreveport, and his mailing address as P.O. Box 3441, Shreveport.

Source: Louisiana Department of Insurance