Lower Delaware Insurance Agent Pleads Guilty to Stealing Spanish-Speaking Clients’ Funds
KENT AND SUSSEX COUNTIES, Del. – A former Delaware insurance agent has been sentenced to three years in prison after pleading guilty to stealing hundreds of thousands of dollars from her Spanish-speaking clients.
The Delaware Department of Insurance (DOI) announced Zenaida Nieves-Cordero’s sentence on Thursday following her guilty plea to three counts of felony theft involving the misappropriation of client funds. Alongside her prison term, Nieves-Cordero received additional levels of probation following release. She was ordered to have no contact with her victims and must pay $625,226.75 in restitution.
DOI says they first launched their investigation after receiving multiple consumer complaints regarding unexplained withdrawals and missing funds. Through a detailed inquiry into Nieves-Cordero’s business practices at her former agency, Apple Insurance Inc., investigators uncovered a pattern of unauthorized withdrawals from clients’ bank accounts. Consumers had entrusted Nieves-Cordero to withdraw funds solely for the purpose of paying insurance premiums; however, evidence showed she diverted hundreds of thousands of dollars for her personal use over a period of several years.
The majority of Nieves-Cordero’s clientele were Spanish-speaking residents of Kent and Sussex Counties. The Department believes she deliberately targeted this vulnerable community, exploiting fears of engaging with law enforcement, making it less likely that victims would report the misconduct.
During this case, Insurance Commissioner Trinidad Navarro also sought and was granted a Court of Chancery conservatorship over Apple Insurance Inc. and Nieves-Cordero’s insurance business operations to ensure an orderly wind-down of the business. After the conservatorship was approved, investigators found that Nieves-Cordero had already emptied Apple Insurance Inc.’s known bank account and continued accessing funds through undisclosed accounts — actions the DOI says demonstrate clear efforts to evade accountability.
