Delaware Department of Insurance Announces Sentencing of Former Insurance Agent for Theft of Client Funds

A former Delaware insurance agent has been sentenced to three years in prison after pleading guilty to three felony theft charges involving client funds. The Delaware Department of Insurance says Zenaida Nieves-Cordero, who operated Apple Insurance Inc., improperly withdrew hundreds of thousands of dollars from clients’ bank accounts over several years. The department says the money was supposed to be used to pay insurance premiums. Most of her clients were Spanish-speaking residents of Kent and Sussex Counties. The Delaware Department of Insurance believes she deliberately targeted this vulnerable community, exploiting fears of engaging with law enforcement and making it less likely that victims would report the misconduct. DOI acknowledges and commends those consumers who overcame these concerns and came forward, enabling investigators and the Department of Justice to hold Nieves-Cordero accountable. Nieves-Cordero was ordered to pay more than 625-thousand dollars in restitution and will be subject to probation following her release.