State police arrest two for unfair trade practices
Published 12:00 am Friday, October 31, 2008
FERRIDAY — Two men surrendered to state police on allegations of selling insurance without the proper license.
Gerald Shane Smith, 35, 678 Luke Martin Road, and Joe Richard Davis Sr., 62, 359 Luke Martin Road, turned themselves in after learning there were warrants against them for unfair trade practices — producer fraud.
Louisiana State Police Detectives began an investigation after receiving a complaint from EMC National Life Insurance Company that Smith allegedly sold three life insurance policies without being licensed to do so, Louisiana State Police Troop E Public Affairs Officer Scott Moreau said.
The investigation later alleged that Davis, Smith’s business partner, had allowed him to sell the policies knowing he did not have the proper licenses, and that Davis had allowed Smith to sign his name on applications for policies when he was not present, Moreau said.
Bond for both men was set at $1,500.