Two Insurance Agents Issued Cease and Desist Orders in Louisiana

By William Murphy

Published on December 12, 2006

Albany, Louisiana, insurance agent Roberta Ann Schaferkotter was told to cease and desist from participating in the insurance business. That may be the least of Schaferkotter's worries, however. The State Police Insurance Fraud Unit booked the insurance agent into jail on two counts of insurance fraud and five counts of forgery. Her insurance licenses have also been suspended.

Schaferkotter allegedly secured fraudulent life insurance policies for 31 clients without their knowledge to get loans and attain funds through cash surrender of the policies. She listed herself and relatives as beneficiaries on the policies.

The Louisiana Department of Insurance also told Texas insurance agent Iftikhar Ahmed Khan to cease and desist his allegedly fraudulent activities after getting a tip-off from U.S. Immigration and Customs Enforcement. Khan allegedly helped Louisiana businesses qualify for federal loans through the U.S. Small Business Administration by issuing false certificates of insurance to the businesses. According to the Department of Insurance, Khan has never applied for or received an insurance license in Louisiana. Records show he is licensed in Texas.

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