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Delaware ex-insurance agent sentenced to three years for premium theft
The court ordered Zenaida Nieves-Cordero to repay $625,226.75 and ordered no contact with victims.
Delaware regulators said Zenaida Nieves-Cordero, a former agent behind Apple Insurance Inc., pleaded guilty to three felony theft counts and was sentenced to three years in prison on Sept. 24, according to Insurance Business.
The Delaware Department of Insurance said customers had granted the agent access to their bank accounts to pay insurance premiums, but regulators found a large share of that money went to her instead.
The department said the investigation began after customers complained about withdrawals they could not account for and money that was missing, and investigators examined how Apple Insurance handled client funds.
In addition to the prison term, the court ordered Nieves-Cordero to repay $625,226.75, to have no contact with her victims, and to serve further probation after her release, the Delaware Department of Insurance announced.