An unlicensed insurance agent from Hacienda Heights who allegedly stole about $500,000 in clients’ insurance premiums and failed to place adequate coverage for her clients’ small businesses has been arrested, the California Department of Insurance announced Wednesday.
Ai Ling Lee, also known as Linda Lee, 60, is set to be arraigned Sept. 30 at the downtown Los Angeles courthouse on nine felony counts of grand theft, according to the Department of Insurance.
An investigation determined that Lee, the owner/operator of Jubilee Insurance Services, allegedly acted as an insurance agent and collected premium payments for liability, property or workers’ compensation insurance coverage for small businesses — including restaurants, construction companies and biochemical companies — even though she was not properly licensed by the department, officials said.
Lee allegedly failed to place insurance coverage or allowed coverage to lapse for non-payment, according to the department.
“Ms. Lee’s alleged theft left her clients’ businesses uninsured, exposing them to significant financial risks,” state Insurance Commissioner Ricardo Lara said.
The Department of Insurance had issued a cease and desist order against Lee in August 2018 and revoked her business license for Jubilee Insurance Services in December 2018, according to the department.
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