A former insurance agent has pleaded guilty to wire fraud after embezzling over $3.7 million from a premium finance company, according to a California Department of Insurance (CDI) investigation.
Tonja Van Roy’s Fraudulent Scheme Unveiled
Tonja Van Roy, 59, who previously ran an insurance agency in Northridge, California, and now resides in Las Vegas, admitted to stealing millions from AFCO Credit Corporation. The fraudulent activities spanned from January 2021 to December 2023, during which Van Roy submitted numerous fictitious loan applications through AFCO’s system, leading to the disbursement of funds directly into her trust account. Former California Insurance Agent
The investigation revealed that Van Roy fabricated details on the loan applications, including fake insurance policy numbers and forged signatures, and used two addresses she rented for multiple fictitious clients. She diverted the funds for personal luxury purchases and repaid initial loans with money from subsequent fraudulent loans, mimicking a Ponzi scheme.
Van Roy’s actions resulted in AFCO disbursing about $3.7 million, of which approximately $1.8 million remains unpaid after some repayments using funds from newer fraudulent loans.
Legal Proceedings and Next Steps
The case, handled by the Major Frauds Section of the U.S. Attorney’s Office in Los Angeles, will see Van Roy return to court for sentencing on March 31. Former California Insurance Agent
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