Insurance Agent came under fire by the California Department of Insurance and was arrested on October 9th, 2010, in Inglewood, CA. Its quite certain that he will be issued Inglewood Bail Bonds for at least $25,000 each, but that is yet to be determined.
The agent was charged with one count of grand theft and one count of identity theft. Each offense usually carries $20,000 Inglewood bail bonds value. The agent was in court and plead not guilty to the charges and next court date is November 6th, 2010. The Agent would submit bogus insurance applications and receive payments upon those.
The payments were advanced commissions. After the insurance company noticed an exorbitant amount of cancelled applications, they started up their own investitgation. The agent would use his bank account information on the applications and the rest of the applications would contain false or stolen information for social security numbers, birth dates, et al.
The California Department of Insurance (CDI) is taking administrative action against the agent and the results of the investigation are not conclusive enough for CDI to make a decision yet. Since 2007 there have been approximately 1900 arrests involving insurance fraud. This is the highest amount of arrests made in any two year period at the CDI offices.
Inglewood, CA isn’t the only place where there is insurance fraud. Take any city in California and there is someone committing insurance fraud. For the agent receiving these Inglewood bail bonds, hopefully he’s got a good lawyer and bail bonds agent. Most of the time the need for the fraudulent insurers to commit the crimes is from a lack of income. In today’s market, more and more arrests are happening since there is less and less moneys coming in from the general public.
More and more people are decreasing their insurance and quitting their life insurance policies. Therefore the insurance crime, as well as all other crimes, are on the rise due to the fact that more and more general public are either very desperate or getting very desperate.
Actually, there are some reports that Inglewood bail bonds issued in 2009 and 2010 are much lower, for a few reasons. Many people don’t have the discretionary income to pay for the bail bond premium, which is 10% of the overall bail bonds cost. So, a $50K Inglewood bail bonds, would require a $5,000 service premium.
Years ago when salaries where higher and the economy was bustling, many parents, cousins, and/or uncles wouldn’t mind putting down $5,000 to get their cousin, uncle, and/or son out of the Inglewood Jail. But now you have the indemnitors leaving the defendants in jail until their court dates. Why?
A couple reasons. One; they are more tight on money now than ever and are willing to leave the defendant in jail until their court date. This court date is normally a couple days after the arrest. Two; the indemnitors and defendants have more knowledge of the jail system and are willing to wait to see the judge for hopes of either lowering their bail bonds cost or getting release on their own recognisance.
It is also noted that the crime rate in Inglewood, CA and other major cities around the world have decreased in the last two years. A statistic that is quite confusing to some specialists who believed once that during these types of recessions the crime rates were sure to rise.