Gamlet Abramian, 47, of Porter Ranch, Calif., was arraigned last week on felony counts of workers’ compensation fraud after a California Department of Insurance investigation revealed he allegedly underreported payroll for businesses in order to save over $210,000 in insurance premiums.
Abramian owns or is involved in managing three limousine companies in the Los Angeles area: D&D Limo, Superior Enterprise, and On Time Coach Executive. The Department’s investigation began after the California Public Utilities Commission’s licensing unit noticed Abramian reported between five to 12 drivers, but either did not have a workers’ compensation insurance policy or reported zero employees to the insurance company.
The investigation found Abramian reported zero in employee payroll to the insurance company, allegedly in an attempt to save on workers’ compensation premiums. As part of the investigation, a search warrant was served to the companies’ banks, which showed the unreported payroll between June 2018 through September 2020. The unreported payroll resulted in $212,667 of unpaid premiums to the insurance company and left employees uninsured.
Abramian self-surrendered and was arraigned on Monday, June 13, 2022. The Los Angeles County District Attorney’s Office is prosecuting this case.
How AI can provide timely insights, spur sales success
Washington Insurance Commissioner Mike Kreidler rejects calls to resign
Advisor News
- RICKETTS RECAPS 2025, A YEAR OF DELIVERING WINS FOR NEBRASKANS
- 5 things I wish I knew before leaving my broker-dealer
- Global economic growth will moderate as the labor force shrinks
- Estate planning during the great wealth transfer
- Main Street families need trusted financial guidance to navigate the new Trump Accounts
More Advisor NewsAnnuity News
- Product understanding will drive the future of insurance
- Prudential launches FlexGuard 2.0 RILA
- Lincoln Financial Introduces First Capital Group ETF Strategy for Fixed Indexed Annuities
- Iowa defends Athene pension risk transfer deal in Lockheed Martin lawsuit
- Pension buy-in sales up, PRT sales down in mixed Q3, LIMRA reports
More Annuity NewsHealth/Employee Benefits News
Life Insurance News
- Jackson Names Alison Reed Head of Distribution
- Consumer group calls on life insurers to improve flexible premium policy practices
- Best’s Market Segment Report: Hong Kong’s Non-Life Insurance Segment Shows Growth and Resilience Amid Market Challenges
- Product understanding will drive the future of insurance
- Nearly Half of Americans More Stressed Heading into 2026, Allianz Life Study Finds
More Life Insurance News