Five Defendants Charged in Multi-Million-Dollar Life Insurance Fraud Case

SAN FRANCISCO, Calif. — The California Department of Insurance announced today that five individuals, including former insurance agents, have been charged in a large-scale insurance fraud scheme involving misrepresented life insurance policies that resulted in fraudulent commissions totaling over $1.4 million.  Daniel Jon Carpenter, 62, of Morgan Hill, was arraigned on felony charges of insurance fraud, grand theft, and identity theft. Carpenter, a former insurance agent, allegedly orchestrated the fraudulent scheme alongside four co-defendants.

Read the full press release. California Department of Insurance, April 10, 2025

NICB assisted the investigation.