A former Beverly Hills, Calif., insurance broker pled guilty to one count of felony grand theft after an investigation by the California Department of Insurance’s (CDI) Investigation Division.
Gregory Starrett Williams, 53, pled guilty on August 29 and was sentenced to three years of formal probation with restitution in the amount of $79,634.36.
According to investigators, Williams, who owned Roger Starrett Williams Co., sold an errors and omissions policy to the owner of a local casting agency and subsequently collected $79,634.36 over a period of five years, beginning in 1997. Williams purchased the company in 1995 and the casting agency had been a client with the company for many years. The owner of the casting firm received annual invoices and paid premiums to Williams’ company, yet Williams never placed the coverage or forwarded premium payments to the insurance company.
In 2003 the casting agency’s office manager reviewed company files and discovered that no insurance coverage was ever placed by Williams. According to the office manager, she confronted Williams about the problem. He allegedly confessed to her that coverage was not placed and then promised to make payments to the casting agency. When he failed to do so, the office manager filed a complaint with the CDI, which initiated the investigation.
Williams’ license was revoked on Dec. 30, 2005. The case was prosecuted by the Los Angeles County District Attorney’s Office.
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