CLOVIS, California (KSEE/KGPE) — A formerly licensed Clovis insurance agent was arraigned Monday in Fresno County Superior Court after allegedly stealing consumers’ premium payments and using them for personal expenses while he was an agent.
Danny Raymond Armenta faces multiple felony counts of embezzlement, grand theft, and diversion of fiduciary funds.
Armenta was named Fresno Area CEO for Habitat for Humanity in December of 2020. In a statement, Habitat for Humanity says the allegations do not involve the non-profit.
Mr. Armenta worked for Habitat for Humanity from November 30, 2020 to February 10, 2021.
None of these allegations involve Habitat for Humanity or work performed by Mr. Armenta while employed. Mr. Armenta did not have access to any funds during his short tenure. All funds, including all donations, received during this time period have been properly accounted for. Habitat for Humanity implements appropriate internal controls to account for and protect its funds.
The California Department of Insurance launched an investigation against Armenta after receiving a complaint from his employer. Investigators say they found that Armenta collected funds from consumers to pay insurance premiums. Investigators say Armenta deposited the payments into a fiduciary account, transferred the funds into a business operating account, and then eventually moved $17,797 into his personal banking account.
Armenta allegedly used the stolen funds to purchase college sports tickets, pay bills and cover other personal expenses.
Armenta’s insurance license has been revoked and he can no longer work in the insurance industry.
He is scheduled to be back in court next month.