A Shreveport, La., bail bond agent has been arrested, issued a cease and desist order, a notice of revocation of his license and fine notice for misappropriation and unfair trade practices, the Louisiana Department of Insurance reported.
Leroy Hicks, Jr., 41, was arrested at the State Police Headquarters in Shreveport and booked into Caddo Parish Jail on 19 counts of Unfair Trade Practices. He was also served by Department of Insurance Fraud Section Investigators with an order to cease and desist from engaging in the business of insurance, a notice of revocation of his license and a fine of $5,000.
It is alleged that Hicks obtained 21 powers of attorney to write bail bonds for which he collected premiums on 19 bonds, but failed to remit the premiums to the insurance company. Hicks is also allegedly in violation of doing business under a trade name without first notifying the Commissioner of Insurance.
Department records show that Hicks held a bail bond license from December 2006 until today’s action.
Source: Louisiana Department of Insurance
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