Louisiana Insurance Agent Accused of Pocketing $10K in Premiums

A Baton Rouge, La. insurance agent, accused of misappropriating $10,000 in premiums instead of passing them on to insurance companies, has been suspended and fined by state regulators.

Gary Ray Rose, 55, was served by the Department of Insurance Fraud Section Investigators with a summary suspension of his license, a cease and desist order, an $8,500 fine notice and a notice of proposed license revocation on March 16.

Department records show that Rose was issued a property/casualty license in June 1993. He has 30 days from time of service to request an administrative appeal or the above actions will become final.

Source: Louisiana Department of Insurance