On Sept. 8, Anthony Lloyd Willis, a former Los Angeles insurance broker, was sentenced to serve 270 days in jail following an investigation by the CDI Investigation Bureau and the Los Angeles City Attorney’s Office.
A restitution hearing is scheduled to be held this month to determine the exact amount Willis will pay to his victims.
The 42-year-old man operated an unlicensed agency called “Right Price Insurance Services” in Los Angeles, selling personal auto and commercial lines coverage. After his broker license expired in July 1995, Willis continued to transact business.
The investigation uncovered several jewelry businesses that had paid Willis in full for their commercial liability policies. After collecting the entire premium amounts, Willis arranged to have some of the policies financed through premium finance companies-without the consent of his victims. The policies were eventually canceled for non-payment of premiums.
Was this article valuable?
Here are more articles you may enjoy.
Allstate’s $1.7M RICO Claims Fraud Suit Merits Trial, Not Arbitration: NJ High Court 
Lloyd’s of London Says Former CEO Neal Breached Compliance Rules 
FDA Says It’s Investigating Another Cyclospora Parasite Outbreak 
Why El Ni帽o’s Promise of Quieter Hurricane Season May Not Be Good News for Insurers From This Issue
