Case Update: Los Angeles Agent Caught Embezzling Over $100,000 From Employer and Clients
"This agent's alleged crimes are reprehensible," said Insurance Commissioner
After receiving a complaint from Hovhannisyan's offered fictitious discounts to policyholders if they paid him in cash for their automobile insurance. Rather than remitting the cash payments to his employer, Hovhannisyan allegedly deposited the money into his mother's bank account for his personal use.
A search warrant of Hovhannisyan used the credit cards of some clients, without their permission, to pay the automobile insurance premiums of those who paid him with cash. One victim's credit card was charged 145 times to pay a total of
The department is requesting that anyone who purchased insurance from Hovhannisyan's and provided cash payment, credit card or
Hovhannisyan was booked into
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