July 6, 2021 - SAN FRANCISCO, Calif. - California Insurance Commissioner has revoked the license of insurance agent Jung Ok Kim, aka Angie Kim, 46, of Fremont, for illegally borrowing $25,000 
from her insurance client.
The Department of Insurance alleges that Kim borrowed $20,000 from her client in December 2018 and another $5,000 from the same client two days later. Kim only repaid $3,000 to her client.
California’s Insurance Code prohibits licensees from borrowing money from their insurance clients. The Department issued an Accusation against Kim on June 8, 2021, and issued an order of revocation after Kim failed to respond.
Kim’s actions may fall under a type of underreported affinity fraud – where perpetrators prey on members of their own ethnic community and rely on victims not to reach out for help, for various reasons, including embarrassment or distrust of governmental authorities. This makes these victims especially vulnerable and crimes perpetrated against them often go unreported.
The Department’s function is to protect all of California’s insurance consumers, especially those in vulnerable communities, and urges anyone who may be a victim of this or any type of fraud to contact Investigator Leanne Borden at (707) 751-2059.
Notes:
- Accusation
Source: CA. Dept. of Insurance