Culver City Observer -

Agent submitted 377 fraudulent applications to Life Insurer

Insurance Commissioner Dave Jones announces that Lori M. Charles, 41, of Culver City has been sentenced on one felony count for violating Penal Code Section 487 (a), Grand Theft.

Charles entered a plea of no contest in Los Angeles County Superior Court. She was sentenced to 90-days of community service and three years of formal probation. She was also ordered to repay restitution in the amount of $62,652.

According to California Department of Insurance (CDI) investigators, during the period April 2008 through April 2009, Charles created fictional names and submitted 377 fraudulent insurance applications to a Life Insurer. Upon receipt of the insurance applications, the insurer issued Charles over $62,000 in advanced commissions.

The insurer filed a complaint with CDI after it was discovered that Charles had submitted an unusually large number of policies in which the policyholders had not submitted premium payments.

This case was investigated by the Valencia Investigation Division of CDI and is being prosecuted by the Los Angeles County District Attorney's Office.

Charles' license to sell insurance expired on June 30, 2011.