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Insurance agent given jail time for defrauding customers

October 28, 2003

A Glendale insurance agent was sentenced Monday to 75 days in jail

after pleading no contest to one count of grand theft when

authorities discovered he took auto insurance premiums from several

Los Angeles and Glendale customers.

An investigation by the state Department of Insurance found that

Arshak Mike Rostomyan, 27, collected insurance premiums and never

submitted them to an insurance company, a Los Angeles City Attorney's

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office news release said. Rostomyan pocketed more than $8,500 in

clients' money while doing business as All Century Insurance

Marketing.

In addition to his 75 days in jail, Rostomyan was given 36 months

probation and 45 days of graffiti removal. He was also ordered to pay

$8,503 in restitution to four victims and barred from owning,

operating or being employed as an insurance agent or broker,

officials said.

Darleene Barrientos

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