Broker Safer in a Cell Than Back at His Agency By Robert Warne - November 20, 2003
As the case of the bogus Sacramento broker unravels, Department of Insurance (DOI) investigators are finding out that Terry Ballard’s book of business was larger than the initial 10 businesses that earned him 218 felony counts.
The DOI reported the arrest of Ballard Nov. 10 and urged anyone that had purchased policies through him or his company, Multi Unit Insurance Services to come forward.
The Sacramento Bee recently produced a follow up story and reported that according to the DOI, a number of people were in disbelief that they had done business with Ballard and that most had no idea they were victims until authorities contacted them.
Also according to the Bee, Ballard’s business neighbor has reported that at least 15 of his clients have dropped by looking for him.
The Sacramento broker had positioned himself as a commercial insurance specialist and allegedly would collect premiums and delay placing the insurance or in some cases never placed the insurance at all. He also is accused of letting some of his client’s policies expire while he continued to collect their premium payments.
Ballard was arrested Oct. 29 and is being held in San Joaquin County Jail on $250,000 bail.
Adjuster / Examiner Claims Examiner Santa Ana Unified School District Santa Ana, CA
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