News: 2009 Press Release
For Release: January 22, 2009
Media Calls Only: 916-492-3566
Commissioner Poizner Announces Southern California Insurance Broker Charged with Stealing Premiums from Clients
Insurance Commissioner Steve Poizner today announced that Craig Randall, 51, of Porter Ranch, was arrested on Tuesday and charged with thirteen felony counts for theft of funds and forgery. If convicted, Randall could face up to six years in prison.
"Undermining a system that is in place to protect consumers is unacceptable," said Commissioner Poizner. "CDI investigators will continue to track down anyone who attempts to skirt the law and exploit California consumers or businesses for personal gain."
Randall, owner of EZ Discount Insurance Services, Inc. in Chatsworth, allegedly collected at least $30,922 from thirteen victims who sought to purchase commercial general liability insurance from September 2007 to July 2008. After he collected premium payments from clients, Randall allegedly failed to submit the payments to insurance companies. Instead, he purportedly pocketed the money for personal use. On two separate occasions Randall allegedly submitted bogus certificates of insurance to make it appear that the businesses were insured. As a result of this purported theft, at least one victim suffered an uninsured loss, and many others were exposed to uninsured losses. CDI investigators were able to seize more than four thousand dollars during the course of their investigation, to be held for possible restitution to victims.
The Los Angeles County District Attorney's Office is prosecuting this case.
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