Unlicensed Insurance Agent Charged in $1.4M Fraud Scheme

An unlicensed insurance agent was arraigned Wednesday on charges of theft, forgery and embezzlement for an alleged scheme that defrauded three victims out of $1.4 million and left them without workers’ compensation coverage, the California Insurance Department announced. Karyl L. Reed, 57, was arrested in Seabrook, Texas, earlier in October and extradited to Orange County. The Insurance Department said Reed acted as an insurance agent between 2012 and 2019 and collected work comp premiums through businesses including Envoy Business Partners and Allen Specialty Group. She allegedly prov...