Culver City Insurance Agent Sentenced for Grand Theft

Culver City resident Lori M. Charles was sentenced for Grand Theft last week in Los Angeles County Superior Court.

According to a release issued by the California Department of Insurance, the 41-year-old insurance agent pleaded no contest to violating Penal Code Section 487 (a), Grand Theft.

Charles will have to serve 90 days of community service and will be on three years formal probation. In addition, she will have to pay restitution in the amount of $62,652.

 According to California Department of Insurance (CDI) investigators, between April 2008 and April 2009, Charles created fictional names and submitted 377 fraudulent insurance applications to a life insurer.

The insurer then paid Charles over $62,000 in advanced commissions but filed a complaint with the CDI after they discovered Charles had submitted an unusually large number of policies where policy holders had not submitted payments.

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