Las Vegas Bail Bondsman Learns From Bail Bonds Fraud

Feb. 11, 2011 - PRLog -- A Van Nuys woman working as a bail bond agent has a court date next month on a felony count of grand theft by embezzlement, authorities said today.

Stephanie Diane Johnson, 55, was taken into custody on Feb. 3 and faces a maximum of three years in prison if convicted, said state Insurance Commissioner Dave Jones.

Johnson was released on bail two days after her arrest, with arraignment set for March 4 at the downtown Los Angeles courthouse.  A Las Vegas bail bonds company read this:

"A bail bond agent who steals from clients in order to use these funds personally is committing a breach of fiduciary duty," Jones said. "Individuals who perpetrate such acts will be prosecuted to the fullest extent of the law."

From February through April 2009, Johnson executed 13 American Surety Co. bail bonds with a total face value of $390,000 within the Los Angeles County, according to the Department of Insurance.

Johnson is accused of collecting at least $34,000 in gross premiums from 12 of the 13 defendants that she bailed out of custody, but failing to remit $5,070 in net premiums due to American. Instead, Johnson allegedly diverted the funds for her own personal use, Jones said.  Some Las Vegas bail bonds companies would do the same thing.

The investigation also revealed that Johnson allegedly failed to return or account for 11 bail bonds with a total face value of $250,000 and worth $3,250 in premiums to American. The bonds have not been located or accounted for by Johnson, according to Jones.

"Based on past experience, bail bonds
that have not been returned by bail agents could have been executed to release suspects from jail and issued to courts without reporting to the surety company, exposing the surety company to losses equal to the bond value, as well a loss of premium," Jones said.

Investigators learned of the alleged scheme last May. The following month, Johnson met with investigators and surrendered her bail license when confronted with the evidence, Jones said.

The case is being prosecuted by the Public Integrity Division of the Los Angeles County District Attorney's Office.  For more information, please visit http://www.4kingsbailbonds.com

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