ORANGE, Calif. – Brian Keith Arteaga, 39, of Placentia, was arraigned today on multiple felony counts of grand theft by embezzlement, theft of fiduciary funds, insurance fraud, and money laundering after a California Department of Insurance investigation found he allegedly stole over $80,000 from small business owners and failed to give the payments to their respective insurance, leaving the victims uninsured. Arteaga’s alleged actions resulted in an uncovered loss of over $500,000 for three victims, one of whose property burned down.
Records indicate there may be additional victims and the investigation is on-going. Anyone who believes they may be a victim of Arteaga should contact the Department at 714-712-7663.
Arteaga worked as an insurance broker from 2004 to 2023 under business names Elias Insurance Services, EIS Insurance Services, and Elias Insurance Agency, LLC. Between 2017 and 2021, Arteaga collected money from the victims that was intended for their insurance policies. Arteaga failed to remit the money to the insurance and kept it for his personal use. His actions resulted in his victims’ policies being cancelled, which they discovered after attempting to file loss claims.
The Department issued Arteaga an Order of Immediate Suspension and Prohibition from the insurance industry and his insurance license has been deactivated.
Arteaga was arrested by the Placentia Police Department on Friday, June 30, 2023, and booked into the Orange County Jail. Bail was set at $20,000. Arteaga is scheduled to return to court on July 21, 2023. This case is being prosecuted by the Major Fraud Unit of the Orange County District Attorney’s Office.
SOURCE: California Department of Insurance
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