A former Ventura County insurance agent was charged with embezzling close to $100,000 from customers, and the State Insurance Commissioner’s office says while out on bail, the Ventura man continued to defraud clients.
The Commissioner’s office says Matthew Arriaga collected premium payments from some commercial policies, but then failed to place the funds with insurance companies.
After he was arrested a second time in May, he remained behind bars. This week, he pled guilty to four felony grand theft charges.
The 37 year old man will be sentenced in December. A second man has been sentenced to 90 days in jail, and a third is awaiting trial in connection with the fraud case.