Santa Barbara insurance agent accused of swindling clients

November 6, 2019

Mark Lynch

By CCT STAFF

California Department of Insurance detectives arrested insurance agent Mark Lynch, 40, of Santa Barbara on Tuesday for allegedly pocketing his clients’ premium payments; leaving them uninsured.

Lynch collected over $72,425 in insurance premium payments from five clients. He then allegedly used those funds for his personal benefit.

The three clients, three Santa Barbara homeowners and two small business owners, were left uninsured against potential liability claims.

“Leaving homeowners without insurance during the Montecito Mudslides could have been devastating for these families and businesses,” said Insurance Commissioner Ricardo Lara. “The arrest of this agent should be a warning to anyone who puts consumers at risk to seek personal benefit.”

On Tuesday, detectives booked Lynch into the Santa Barbara County Jail on 13 felony counts of grand theft, embezzlement, and money laundering in lieu of $100,000 bail. The Santa Barbara County District Attorney’s Office is prosecuting the case.


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Jorge Estrada

Just think about this for a minute and decide what is easier, identity theft or insurance fraud? One thing that is certain, insurance companies make a killing on risk management or putting it another way, keeping your money in their pocket. I guess that once in awhile the middleman keeps it in his pocket? A little more risk until caught or the policy finally gets funded.


LameCommenter

Stupid. Wipe out your career for seventy two grand? I think my commercial lines insurance guy spills that much opening his wallet. Glad he was caught.