SANTA BARBARA, Calif. – A Santa Barbara insurance coverage agent was taken into custody Tuesday after investigators say he stole tens of hundreds of from shoppers and left one shopper uncovered throughout the Montecito mudslide.
The California Division of Insurance coverage says Mark Lynch, 40, was arrested on suspicion of 13 felony counts of grand theft, embezzlement, and cash laundering.
The division says he collected greater than $70,000 in insurance coverage premium funds from 5 shoppers, however left them uninsured. That included one shopper who was uncovered throughout the January 9, 2018 mudslide in Montecito. The shopper did not endure any harm throughout the lethal mudslide.
“Leaving householders with out insurance coverage throughout the Montecito Mudslide might have been devastating for these households and companies,” stated Insurance coverage Commissioner Ricardo Lara. “The arrest of this agent must be a warning to anybody who places shoppers in danger to hunt private profit. The Division of Insurance coverage will proceed to make use of each useful resource obtainable to cease unscrupulous brokers from preying on clients.”
Division of Insurance coverage investigators say Lynch was pocketing the insurance coverage funds. Three of his shoppers have been Santa Barbara householders, and two have been small enterprise homeowners. Investigators say the funds have been taken between January 2016 and January 2017.
The division launched an investigation after receiving complaints from Lynch’s shoppers.
The Division of Insurance coverage is looking for to revoke Lynch’s insurance coverage license.
He was booked into Santa Barbara County Jail Tuesday and is being held on $100,000 bail.
Crime / Santa Barbara- S County / High Tales