Cease and Desist Order Issued to Michigan Man Selling Fraudulent Auto Insurance Certificates
According to Insurance Journal, Lovell Borom Jr., an Inkster, MI resident, has been issued a Cease and Desist Order last month by the Michigan Department of Insurance and Financial Services (DIFS) for selling fraudulent auto insurance certificates. As if we don’t have enough fraud to look out for already.
A producer of LA Insurance Agency, located in Taylor, MI, reported the alleged fraud to DIFS. The complaint identified that Borom, who has absolutely no relationship with LA Insurance Agency, has been soliciting, negotiating and selling fake auto insurance after hours in their parking lot.
The investigation conducted by DIFS also confirmed that Borom was using social media to advertise his fraudulent business. Insurance Journal notes that he was “allegedly advertising the sale of 6-month term auto insurance and included on his social media page ‘several LA Insurance store front pictures.’”
It has been confirmed by insurance regulators that Borom is NOT a licensed insurance agent and is not authorized to solicit, negotiate or sell insurance in the state of Michigan.
No comment has been made regarding the amount of customers, or victims, that have actually acquired the fraudulent certificates.