Bail Bond Agent Arrested and Served With C&D, License Revocation
and Fine Notice
Released: February 19, 2009
A Metairie bail bond agent has been arrested, served with a cease
and desist order, notice of license revocation and fine today for
misappropriation of premiums. His agency was also issued a cease
and desist order and license revocation.
Sider, 33 was arrested by State Police in New Orleans today and
Department of Insurance Fraud Section Investigators
with a cease and desist order, notice of license revocation and a
$2,000 fine for alleged misappropriation. His bail bond agency, Troy’s
Bail bonds, L.L.C. and his trade names, #1 Anytime Bail Bond, A-1 Bail Bonds and Gretna Bail Bonds were also served in this action.
It is alleged
that in February 2008, Sider dishonestly collected $2,500 in premiums
a client for a bail bond that was not necessary
for the client’s release. He then failed to remit the premiums
to an insurer for a bail bond or refund the premiums to the client.
show that Sider held a Property and Casualty License from August
until today’s action.
Donelon urges consumers who feel uneasy about any insurance related
transaction to call the Department of Insurance Fraud Section
at 225-342-4956 or
1-800-259-5300. If callers do not want their names used, they can
request that their involvement be kept confidential.