Former insurance broker An Khai (aka Annie) Lu, 54, of Monterey Park, Calif., was arraigned on three counts of grand theft. The California Department of Insurance (CDI) revoked Lu’s insurance license in Oct. 2002 for numerous violations. Victims sustained a combined loss of $4,586 due to her alleged activities.
According to CDI investigators, three new complaints concerning Lu have been received since her license was revoked. The victims alleged they paid Lu money intended for insurance from April through Sept. 2002 and Lu supposedly either failed to remit payment to an insurance company or remitted only partial funds. This led to the premature cancellation of their insurance policies. CDI obtained Lu’s bank records through a search warrant and confirmed that money paid by the victims was deposited and negotiated into accounts Lu controlled.
Lu operated her insurance office under the names of Annie Lu Insurance Services and Cisal Insurance Services.
Topics California Agencies Fraud
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