A licensed insurance agent in Glendale was arrested and charged with grand theft and insurance fraud after allegedly acting as a licensed insurance agent to steal $10,000 from a trusting client, according to the California Department of Insurance.
Nadja Fuentes Ocampo, 59, of Glendale, was appointed by a major insurance carrier to sell life insurance products. According to an investigation, Ocampo allegedly encouraged a client to withdraw $10,000 from her life policy and engage in an investment with a hand-written agreement. The victim was told by Ocampo that the investment was safe because the investment funds were allegedly going to be with the same insurance carrier the money was originally drawn from.
Ocampo allegedly did not return the $10,000 to her client and used the money for her personal gain. The insurance company terminated her after the client reported the incident.
“Ocampo allegedly violated her fiduciary responsibilities and the trust of her client and her employer,” Insurance Commissioner Dave Jones said in a statement. “I have zero tolerance for agents and brokers who use their position of trust to scam and victimize California consumers.”
Ocampo has been charged on one felony count of grand theft, one felony count of selling an unqualified security and one count of providing a false statement to sell a security. This case is being prosecuted by the Los Angeles District Attorney's Office.