Insurance Broker Held For Milking Clients, Including Celebrities, Out of $800,000

Federal authorities this morning arrested a Thousand Oaks man on federal mail fraud charges that allege he overbilled clients hundreds of thousands of dollars for insurance policies.
Jerry B. Goldman, 59, was arrested without incident this morning at his residence. He is expected to be arraigned on a 10-count indictment this afternoon in United States District Court in Los Angeles.
The indictment alleges that Goldman used his Newbury Park insurance agency to obtain various insurance products for clients, some of whom were overbilled by as much as 600 percent. The indictment lists four victims, including Tom Hanks and Andy Summers.
According to the indictment, Goldman negotiated premiums for insurance coverage on behalf of his clients, and he was paid commissions by the insurance provider on each policy. Goldman allegedly created fraudulent invoices on his company’s letterhead that inflated the premiums due by as much as 600 percent. From 1998 through August 2011, Goldman received overpayments of more than $800,000, the indictment alleges.
An indictment contains allegations that a defendant has committed a crime. Every defendant is presumed to be innocent until and unless proven guilty in court.
Each of the 10 counts of mail fraud alleged in the indictment carry a statutory maximum penalty of 20 years in federal prison.
The case against Goldman was investigated by the Federal Bureau of Investigation.