A Baton Rouge man was arrested today after his office was searched in the latest
investigation of alleged insurance fraud across the state, Louisiana Insurance Commissioner
Jim Brown confirmed.
The suspect, Yih-Ching Liou, 37, of 1026 East River Oaks, Baton Rouge, was to be
booked into the East Baton Rouge Parish Jail today after Department of Insurance
and State Police Fraud Task Force investigators showed up with a search warrant
today at his insurance agency, A Abacus Agency, 4611 South Sherwood Forest Boulevard.
"The suspect is alleged to have been accepting insurance premiums, but failing
to issue policies and pocketing the money," said Commissioner Brown.
Investigators believe the alleged wrongdoing involved automobile insurance as well
as Homeowners coverage. The suspect held insurance licenses which lapsed and then
were reinstated. He is alleged to have sold insurance during the time his insurance
"The investigation is continuing, and now that the search warrant has been
executed, investigators are going through documents to determine how many consumers
were defrauded," said Commissioner Brown.
The arrest warrant accuses Liou of one count of felony theft, seven counts of misappropriation
of insurance premiums, five counts of selling insurance without a license. However,
Brown said other charges could result pending further investigation.
Today's actions are part of a sweep being made around the state by the Department
of Insurance and the State Police Task Force on Insurance Fraud. Other recent arrests
were carried out in Monroe, Haynesville and Church Point, Gretna, Independence and
Denham Springs. Other investigations are underway around the state.
Commissioner Brown said that insurance fraud is one of the factors driving up the
cost of insurance. He said in Louisiana insurance claims fraud alone is estimated
at $2.3 billion a year.