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Angel Estrada, 22, a formerly licensed insurance producer and owner of Angel Estrada Agency, allegedly swindled a national insurer out of more than $140,000 in commissions by writing bogus commercial insurance policies to earn large commissions.

According to the Department of Insurance investigators, between 2016 and 2017, Estrada submitted 74 applications for commercial insurance policies and was paid large commissions.

Estrada then used a portion of his commission money to fund initial premium payments on new bogus policy applications to secure additional commissions.

Investigators allege Estrada continued this practice until the insurer audited his business and revealed the alleged scam. Internal auditing and underwriting by the national carrier revealed only one of the 74 policies Estrada submitted had an actual premium payment.

Based on the evidence, Department investigators secured an arrest warrant and Estrada surrendered in Los Angeles Superior Court, and was released on his own recognizance. Estrada was charged with grand theft, California Penal Code 487

The case is being prosecuted by the Los Angeles County District Attorney’s Office.