California Insurance Agent Stole Money From Clients, Regulators Say

Formerly licensed insurance agent David Lance Hall, 64, of Bakersfield, Calif., was arraigned this week in Kern County Superior Court on six felony counts of theft and misappropriations of fiduciary funds after allegedly stealing money from his clients that was meant to pay for their insurance coverage.

The California Department of Insurance received a complaint from the insurance company Hall worked for alleging he diverted and misappropriated money he collected from several clients for their insurance premiums.

The Department’s investigation determined Hall, while working as a licensed agent, withdrew money entrusted to him by his clients for insurance coverage from his business bank trust account and deposited that money into his personal account. The investigation found Hall did this on six separate occasions between September 2018 and December 2018. His alleged theft of premium funds from his clients totals $11,961.

The Department revoked Hall’s license on March 8, 2021. The Kern County District Attorney’s Office is prosecuting this case. Hall is scheduled to return to court on April 22, 2022.