California Arrests Culver City Broker for Grand Theft

September 16, 2008

Ibroker Renee Cardriche of Culver City, Calif., has been arrested for grand theft, the California Department of Insurance stated. Cardriche surrendered and was arrested on September 10 in Culver City.

According to a CDI investigation, Cardriche issued a quote for a physician seeking medical malpractice insurance. The physician initially agreed to purchase a policy, and Cardriche sought to have the policy financed through a premium finance company. The physician later declined to purchase the policy, however Cardriche had already arranged for $14,281 to be wire transferred to her account from the finance company. After receiving the funds, Cardriche did not submit an application to an insurance company, or return the funds to the premium finance company. After several unsuccessful attempts to retrieve the funds from Cardriche, the company submitted a complaint to the Department of Insurance in 2007.

This case is being prosecuted by the Los Angeles County District Attorney’s Office. Cardriche faces a maximum sentence of one year in state prison if convicted. Bail has been set at $15,000 and arraignment is pending.

Source: CDI

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