FRESNO, Calif. — Formerly licensed insurance agent Marcia Wable, 66, of Clovis, was arraigned today on eight felony counts of embezzlement, forgery, and false impersonation after a California Department of Insurance investigation found she allegedly stole over $380,000 from fraudulent insurance policies and used the money for her personal use.
The Department’s investigation began after an insurance company claimed Wable issued a fraudulent commercial excess auto liability policy. The investigation revealed the policy was fraudulent and Wable was pocketing fraudulent premiums from various businesses, misappropriating the money for her personal use, and falsely impersonating businesses in a private or official capacity.
The investigation also found Wable issued a total of 15 fraudulent insurance policies and five policy endorsements resulting in premium theft of over $216,000.Wable also fraudulently submitted finance agreements for three dissolved businesses to illegally collect over $165,000. Wable deposited those funds into accounts she controlled and used them for her own business and other personal expenses.
The Department revoked Wable’s license on October 4, 2023. This case is being prosecuted by the Fresno County District Attorney’s Office.
Source: California Department of Insurance
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