L.A. Broker Arrested for Allegedly Pocketing $381,000 in Premiums

April 14, 2006

  • April 14, 2006 at 1:36 am
    InsuranceChick says:
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    You can run, but you can\’t hide when you owe The Company money!

  • April 14, 2006 at 4:02 am
    MUD says:
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    Oh there are other thiefs out there. Should I ask what these carriers qualifications for being a producer actually are. And why they let it go on for so long. Point made. Enjoy your Easter and the free gift we receive by faith for what happened on that day 2000 years ago.

  • April 14, 2006 at 4:32 am
    Neal Bobb CLU says:
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    This comes on top of the new Prematic Class Action lawsuit, by policyholders. SF Bay Area news station CBS5 reports Farmers using Google Earth to cancel policies. Farmers did not return phone calls. Looks like a freefall in California.

    [url]http://cbs5.com/video/?id=12400@kpix.dayport.com[/url]

    also

    [www.santacruzsentinel.com]

  • April 16, 2006 at 11:46 am
    IndAgent says:
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    MUD, Nobody wants to see their company being bashed, so I can understand your concern for wanting to protect your company. I was in the Farmers system for nearly 15 years. You can pretty up Farmers, but they are who they are. Yes, unprofessional practices are not limited to Farmers, but no doubt Farmers gets more than their fair share and I think that is why everyone is pointing this out. I mean you have an ex-fellon being a partner in a Farmers Agency! One of the reasons you are so insecure about Farmers is because even want to believe Farmers is a great company. Buddy, the truth is, Farmers had some incompitent leadership over many years starting in the mid-90s. DMs are among the most corrupt in the industry. Nevertheless, you can deny this, that is fine, but the ones who are either still with Farmers or have left Farmers know the truth.

  • April 17, 2006 at 8:13 am
    MUD says:
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    I am not an insurance agent. I am an accountant for a large independent insurance agency. I have watched everyone come into debates with preconceived notions about certain events. Ray W. was a criminal who got caught stealing. The result of the article was an all out attack on Farmers for hiring this well known person. My point was that all insurance companies are whores for big name celebs. But it is not there fault when people, celebs or not, go outside the law. This article just goes to show that people are bad. It makes no difference if they are an agent, CEO, or secretary when it comes to doing evil.

  • April 17, 2006 at 10:01 am
    ExFarmboy says:
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    I don\’t think you can compare the $381,966 theft over 6 months with the $8,000,000 over 4 years by Ray W.. The the 6 months cae the carriers and GA turned in the guilty party. Not the case with Ray. Farmers was caught with their pants down (I think they actually pulled them down them selves)when the DOI and other authorities arrested Ray. They did not apppear to have any idea this was going on. You are correct in that theft can happen to any company at any time, but not in that amount over that period of time without either assistance or incompetance.

  • April 18, 2006 at 12:26 pm
    IndAgent says:
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    Farmers and Ex-Farmers are coming here pointing the hiring practices of Farmers. Famers agents know what the hell is going on, anybody who can breath can become a Farmers Agent. I have seen District Managers get so many exceptions to put on the most questionable people! Let me ask you, what qualifies you to know about Farmers, given you are a CPA for a large agency? Did you go from a Farmers Agent to a CPA of a large agency? I sure doubt it, that is a very unusual and illogical career path. That would be like me telling you what is going on in your large agency, I would be clueless if I didn\’t work for your agency. Obviously, you story crumbles before the reader is finished reading it!

  • April 18, 2006 at 12:30 pm
    IndAgent says:
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    Well said Farmboy, how can it even be possible to collect 8 million dollars without a claim being filed or a billing question not coming up to the regional office that will bring to the attention of this. Incompitence is an understatement, this is far beyond that.

  • April 18, 2006 at 8:18 am
    MUD says:
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    I was never ever involved with Farmers. There is no crumbling story. Insurance companies are whores, but no matter how perfect a system, including mine and yours…people will steal, they will lie, they will cheat, and they will try to find some EASIER way to RICHES. If you read this magazine frequently you will find many crimes from the secretary on up. I have no idea about Farmers District Managers, their hiring practices or whatever…I also don\’t care. I want you to think about the comment \”well he only stole a few hundred thousand dollars\” ONLY a few hundred thousand..come on. So if I murder only 200 people I cannot be that bad cause someone else murdered 8000. RIDICULOUS!!!!! Farmers will fall away by themselves if their SYSTEM is so horrible. But thieves will still try and find their money supply in the companies you represent as well as the companies my agency represents. Cause it all comes down to the fact that people are people and do stupid people things!!!

  • April 18, 2006 at 8:21 am
    MUD says:
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    Dont add what you might think needs to be added to the story. Just the facts Mam!!!
    I know, I know, if you read it on the net it MUST BE TRUE!!! A judge would not even allow statements like that in the courtroom!!!



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