Co-Owner of Calif. Agency Takes Plea Bargin Deal

Jerry Young, the president and co-owner of California-based Pelican Bay Insurance, faces up to a year in jail after taking a plea bargin in an insurance fraud case that began some five years ago.

Young was originally hit with 29 felony counts for insurance fraud, but plea bargained down to a misdemeanor accessory charge. He will be sentenced this December.

Young and one of his employees allegedly lied to customers about coverage, issued false proof of insurance, forged documents and pocketed insurance premiums. Young offered a no contest plea on behalf of his agency in relation to the amended misdemeanor charge of being an accessory to the crime at a preliminary hearing Monday.

Young, his wife, who is co-owner of the agency, and the employee, Page Castro, were all arrested in March of last year following an investigation by several departments, including the Department of Insurance. Young's wife was not named in the charges due to lack of proof she did anything wrong. The couple owned and operated the agency that was originally known as the Fraser, Yamor, Jacob and Young Insurance Agency.

Young and his wife fired Castro, who also faces possible jail time when sentenced, back in 2003.