A former Westlake Village insurance agent is facing multiple felony counts of grand theft, burglary and financial elder abuse for allegedly stealing more than $55,000 in client insurance premiums, state officials announced Monday.
Joseph Schimmel, 39, voluntarily surrendered Friday at the San Fernando courthouse. He pleaded not guilty the same day and was released on his own recognizance, according to the California Department of Insurance.
The CDI alleges that Schimmel, doing business as Schimmel Insurance Services Inc., victimized six clients — including four seniors — between December 2018 and December 2019.
He allegedly collected $55,564.66 in insurance premiums, yet failed to buy any coverage and deposited the money into his personal account. The alleged embezzlement left his clients exposed to potential substantial financial losses as a result of being uninsured, according to the CDI.
An accusation was filed against the agent on May 8 and his license expired June 30, according to the state agency.
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