BAKERSFIELD, Calif. (KBAK/KBFX) — A local insurance agent was arrested, accused of stealing customers’ premiums and not providing the coverage purchased. Jose Luis Yanez, Jr., 36, of Bakersfield surrendered and was arraigned on March 29th. Department of Insurance investigators say they found evidence that he accepted cash for premiums, but did not provide the coverage.
Yanez is also accused of falsifying documents, which resulted in him collecting commissions for work he did not do. Yanez’ bail has been set at $20,000.The Department of Insurance is urging those who bought insurance from Yanez to contact their insurer and verify their coverage.