Alicia Holbrook-Bloink and her insurance company, Holbrook Insurance Agency, pleaded guilty to various offenses in December after scamming her clients out of hundreds of thousands of dollars through deceptive insurance practices. She has been condemned to a year in federal prison.
In addition to conducting a criminal enterprise, Holbrook-Bloink pleaded guilty to embezzlement, identity theft, and tax evasion, while the company pleaded guilty to conducting a criminal enterprise.
Forging finance agreements
Court filings said that Holbrook-Bloink utilized her insurance company, Holbrook Insurance Group, LLC, to swindle and embezzle the money of her insurance clients between 2015 and 2019.
According to Insurance Business Mag, Holbrook-Bloink had embezzled more than $375,000 by taking money from her clients after they had made a full payment, then forging finance agreements with premium finance companies to ensure that the policies were issued while Holbrook-Bloink was stealing their money.
Michigan Department of Attorney General Ashley Schwartz said that these finance contracts were frequently not paid, leading to the cancellation of insurance policies, often without the policyholders’ knowledge.
Eventually, according to Schwartz, Holbrook-Bloink stopped writing financial agreements, and instead, she would steal the clients’ money without attempting to complete a finance agreement or issue an insurance policy on their behalf.
Clients lost their money from scam
Meanwhile, Livingston Daily News revealed that The United Association of Journeymen and Apprentices of the Plumbing, Pipefitting, and Sprinkler Fitting Industry of the United States and Canada were one of the clients who suffered financial losses. Approximately $300,000 was embezzled by Holbrook-Bloink from the organization, putting the union in a tough position with regard to employee benefits.
After several victims filed complaints, the state Department of Insurance and Financial Services (DIFS) referred the case to the attorney general’s office. An investigation was conducted by DIFS and agents from the attorney general’s office.
DIFS Director Anita said that the DIFS is devoted to protecting Michigan clients in the insurance and financial services business.