A Newbury Park insurance agent was arrested Thursday for allegedly running a commission scam by signing up more than 20 people for multiple life insurance policies without their knowledge, according to the California Insurance Department.
Alexander Komarenko, 54, was booked by the Ventura County Sheriff. An investigation by the Department of Insurance found Komarenko allegedly traveled between Los Angeles and the Central Coast where he befriended people and sold them life insurance policies that included automatic monthly premium payments from their checking accounts.
Komarenko would then allegedly sign the victim up for additional life insurance policies without their knowledge, also through automatic payments. If victims noticed the additional payments, Komarenko said it was a billing error. He would cancel the existing policies and write new ones to perpetuate the scam.
Investigators have identified 20 victims so far, from Hollywood to the San Fernando Valley and as far north as Monterey.
“Komarenko violated his fiduciary responsibility when he allegedly took advantage of his clients,” said Insurance Commissioner Dave Jones in a statement. “Licensed insurance agents hold a position of trust and are held to a high standard of professionalism in California.”
Komarenko lived in Agoura Hills until recently moving to Newbury Park. His insurance license has been suspended.