A Baton Rouge man was arrested today after his office was searched in the latest investigation of alleged insurance fraud across the state, Louisiana Insurance Commissioner Jim Brown confirmed.

The suspect, Yih-Ching Liou, 37, of 1026 East River Oaks, Baton Rouge, was to be booked into the East Baton Rouge Parish Jail today after Department of Insurance and State Police Fraud Task Force investigators showed up with a search warrant today at his insurance agency, A Abacus Agency, 4611 South Sherwood Forest Boulevard. "The suspect is alleged to have been accepting insurance premiums, but failing to issue policies and pocketing the money," said Commissioner Brown.

Investigators believe the alleged wrongdoing involved automobile insurance as well as Homeowners coverage. The suspect held insurance licenses which lapsed and then were reinstated. He is alleged to have sold insurance during the time his insurance licenses lapsed.

"The investigation is continuing, and now that the search warrant has been executed, investigators are going through documents to determine how many consumers were defrauded," said Commissioner Brown.

The arrest warrant accuses Liou of one count of felony theft, seven counts of misappropriation of insurance premiums, five counts of selling insurance without a license. However, Brown said other charges could result pending further investigation.

Today's actions are part of a sweep being made around the state by the Department of Insurance and the State Police Task Force on Insurance Fraud. Other recent arrests were carried out in Monroe, Haynesville and Church Point, Gretna, Independence and Denham Springs. Other investigations are underway around the state.

Commissioner Brown said that insurance fraud is one of the factors driving up the cost of insurance. He said in Louisiana insurance claims fraud alone is estimated at $2.3 billion a year.