MEDIA RELASE

HAWAI`I INSURANCE COMMISSIONER REVOKES BAIL BONDSMAN’S LICENSE 

HONOLULU – Hawai`i Insurance Commissioner J.P. Schmidt has issued a cease and desist order for bail agent Monica Joyce Pacheco of the Big Island.

Pacheco allegedly withheld premium payments and cash collateral deposits for her personal use. Pacheco operated an unregistered and unlicensed bail agency (Big Island Bonding) that was not authorized by her former employer (Bail Hawaii) or the Hawai`i Insurance Division.

“Insurance is based on trust and our investigation indicates that Pacheco violated this trust with her clients and their families,” explained Schmidt. “A family or friend working to help an individual make bail and meet the requirements of bail is in a complicated and stressful situation. Licensed agents have a duty to help, and should never take advantage.”

Anyone who feels they are not being dealt with in an appropriate manner when seeking a surety bond for bail purposes is encouraged to contact the Investigations Branch of the Hawai`i Insurance Division at (808) 586-2790.

Consumers are also encouraged to contact the Hawai`i Insurance Division or visit their website at: http://hawaii.gov/dcca/areas/ins/ to confirm that an agent or agency they are considering working with is licensed.