La. Bail Bond Agent Arrested, License Revoked

January 17, 2008

The Louisiana Department of Insurance reported that a Shreveport bail bond agent has been arrested, issued a cease and desist order, a revocation of his license and fine for the felony crime of filing false public documents and extortion.

Willie Demond Reed, 31, surrendered to state police in Shreveport and was served by Department of Insurance Fraud Section investigators with an order to cease and desist from engaging in the business of insurance, a revocation of his license and a fine of $6,000.

It is alleged that Reed was hired by another bail bondsman in 2007 to apprehend a fugitive from whom he accepted $1,200 in return for not bringing the fugitive in to the authorities.

It is also alleged that Reed gave the fugitive instructions on how to evade the bail bondsman who hired him.

He is further alleged to have submitted a fraudulent license application to the Department of Insurance in 2006 by not disclosing his prior criminal record.

Records show that Reed was convicted of criminal trespass in the second degree in 1994 and convicted of menacing in the second degree in 2001.

Reed held a bail bond license from November 2006 until the current action.

Source: Louisiana Department of Insurance

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