An investigation by CDI resulted in the arrest of a Costa Mesa insurance agent.
William Earl Stone was arrested at his Costa Mesa business office and transported to the Orange County Jail by investigators. Stone, president of Summit Insurance General Agents & Brokers Inc., was charged with four counts of grand theft, with bail set at $30,000. The Orange County District Attorney Office is prosecuting the case.
According to the CDI, Stone allegedly collected premium monies from three separate insureds and a premium finance company and failed to place coverage and return the unearned premium monies.
Topics Agencies
Was this article valuable?
Here are more articles you may enjoy.
‘We’ll Want Some Proof’: State Farm CEO’s Take on NY Auto Insurance Reforms 
5 Years After Surfside Collapse: Safer Condos, More Transparency for Underwriters 
Trump Says Illegal Immigration Increased Car Insurance but Experts Say Otherwise 
Ship Insurers Set for Major Claims From Iran War, Allianz Says From This Issue
