A Long Beach woman was arrested Thursday, Jan. 2 on suspicion of pocketing a $5,500 insurance payment and leaving the client’s business uninsured.
Gelinda Phann Keo– who was doing business as Global Cargo Insurance Agency in Rosemead– is facing a felony grand theft charge, according to the California Department of Insurance.
Keo, 43, allegedly collected the $5,500 from a client for a cargo policy that included international bonds. The insurance policy was canceled due to non-payment of the premium, leaving her client’s business without coverage for months, according to the department.
Keo’s client subsequently paid an additional $5,500 to obtain a valid insurance policy after being informed that customs could not verify the international bonds, which caused delays in shipments, according to the DOI.
“This agent allegedly stole money from a hard-working business owner, leaving them uninsured and financially vulnerable,” state Insurance Commissioner Ricardo Lara said. “My department will continue to investigate agents who use their position of trust to take advantage of their clients and bring them to justice.”
An administrative action is pending involving Keo’s license, according to the department.
