Broker Who Allegedly Stole $3.8 Million Has 2006 Court Date In L.A. By Associated Press - November 28, 2005LOS ANGELES (AP) _ Victims of an insurance broker who allegedly collected $3.8 million for bogus policies through his offices in California, New York and Texas may never recover their money, authorities said Monday.
Clarence Joseph Hall III, a San Antonio, Texas, resident, was arrested in Los Angeles and pleaded not guilty on Nov. 10 to 63 felony counts of grand theft, forgery and insurance fraud following an investigation by the California Department of Insurance.
He posted $100,000 bail that day.
"There's the potential for some victims to receive restitution at some point in time," but only if Hall is found guilty, insurance investigator Vera Grung said Monday.
Also known as "Joe Hall," Hall operated Harbour Entertainment & Sports Insurance and maintained offices in the three states.
The CDI revoked his insurance license in April 2001, but Hall continued to issue more than 2,700 fake policies to entertainment, special event and sports clients, Insurance Commissioner John Garamendi said in a statement issued Monday. Hall allegedly collected about $3.8 million from the policies between December 2001 and June 2002.
The California Department of Insurance then seized his bank account, Grung said.
A status hearing for Hall is scheduled in January 2006, Grung said.
"Now that it's in the news again, we'd like to see if more victims step forward," insurance spokeswoman Carrie Reinsimar said.
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Eds: Victims can call the state agency's consumer hot line at 800-927-4357. |