California insurance agent arrested after fraud investigation
Insurance agent John Ryan, 64, of Palm Springs, was arrested on Tuesday on multiple charges.
Ryan, who was arrested after failing to appear for arraignment in felony charges filed in April by the San Diego County District Attorney, faces 45 counts of elder abuse, grand theft, and identity theft.
He is alleged to have diverted over $75,000 from the accounts of art dealer and philanthropist Gregg Juarez while acting as his insurance agent, according to the California Department of Insurance (CDIF).
Juarez died in 2018 at the age of 93.
The Department of Insurance heard from former employees of Ryan that he allegedly kept premiums that should have been sent to insurers.
Current and former clients of Ryan, whose businesses operated under the names Calinsured, Greater Palm Springs Insurance, and PS Independent Insurance, have been urged to review their policies to make sure they are valid and that funds intended for their insurance company were received.
Ryan’s insurance license was revoked on May 12 under California law.
The former broking boss was arrested by investigators from the California Department of Insurance Inland Empire Fraud Division in Palm Springs, California, on a $300,000 arrest warrant.
“Anyone with information or who believes they are a victim of Ryan’s should contact the department,” CDIF urged.