A former Roseville insurance agent, accused of stealing the identities of school district employees in 13 California counties, has been sentenced to three years and four months in state prison.
Magaly Morales, 51, pleaded guilty to forgery, identity theft and aggravated white collar crime enhancement for losses of more than $100,000, according to a California Department of Insurance news release. She was sentenced March 24.
Morales, who also used the alias Magaly Egas, was arrested in December 2014 on multiple felony counts for submitting 299 fraudulent annuity applications and collecting more than $230,000 in advanced commissions, authorities said.
As a licensed insurance agent for Great American Life Insurance Co., Morales gained access to policyholders’ data from 2009 to 2011. She used her authority as an agent to steal information from school district employees from 13 counties, including Sacramento, El Dorado, Placer, Yolo, Solano, Calaveras, San Joaquin and Shasta. The largest number of victims were in San Joaquin County, authorities said.
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Using the stolen identities, Morales submitted annuity applications to Life Insurance Co. of the Southwest and received advanced commissions on annuity policies for people who had no idea they owned such policies.
Authorities said the identity theft victims did not have to pay any premiums on the fraudulent policies that resulted form Morales’ illegal activity.
Since Jan. 15, Morales has not been licensed to conduct insurance transactions in California, according to the Department of Insurance.
Call The Bee’s Cathy Locke, (916) 321-5287.