Released: April 26, 2007

A Houma insurance agent has been arrested and issued a cease and desist order and summary suspension of his licenses today for alleged forgery of insurance license applications and life insurance policies for monetary gain.

Troy Darnell Augustine, 39, was served by Department of Insurance Fraud Section Investigators with an order to cease and desist from engaging in the business of insurance, a license revocation and a $25,000 fine notice at the Terrebonne Parish Criminal Justice Complex in Houma. He was also arrested by the State Police Insurance Fraud Unit and booked on charges of felony theft, insurance fraud and filing false public records.

Today’s action results after Department of Insurance Fraud Section Investigators discovered that Augustine had been issued a C&D in September 2000 for misrepresentation, misappropriation of premiums and failure to respond to Department of Insurance directives. It is then alleged that Augustine attained a new license in June 2006 by altering his name, social security number and date of birth. After fraudulently gaining a new license, Augustine is alleged to have forged life insurance policies using false information for clients he had never met, and then forged client signatures on these policies in order to receive advance commissions on the policies totaling over $9,800.

Department records show that Augustine held a valid property & casualty license from October 1992 until May 1995, and a valid industrial life, health & accident license from May 1992 until he was issued a C&D in September 2000. He held an illegally obtained license under the name Troy Danell Augustine from June 2006 until today’s action.

Commissioner Donelon urges consumers who have any questions regarding policies Augustine sold or serviced to call the Department of Insurance Fraud Section at 225-342-4956 or 1-800-259-5300. If callers don’t want their names used, they can request that their involvement be kept confidential.