“The Division of Insurance coverage is chargeable for imposing requirements of conduct for insurance coverage brokers to guard shoppers,” mentioned California Insurance coverage Commissioner Ricardo Lara. “Mr. Gordon had a fiduciary duty to signify his shoppers’ finest curiosity. As an alternative, he allegedly stole greater than $1 million from them, placing his greed above their wants. The Division of Insurance coverage will all the time persist in investigating and stopping insurance coverage professionals who put their shoppers at monetary threat.”
The division started investigating Gordon after a life insurance coverage firm reported suspicious withdrawals from certainly one of its buyer’s accounts. The division discovered that Gordon, the proprietor of Geetis Group, allegedly made six digital funds transfers, totaling $103,520, from the sufferer’s annuity account, which he managed. He additionally allegedly pilfered $70,000 from the identical sufferer’s financial savings account, charged almost $100,000 to their bank card, and solid checks to siphon about $310,000 from their checking account.
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Throughout the course of the investigation, the division found two further victims, a married couple. Gordon allegedly made dozens of digital transfers, totaling $679,934, from a number of annuity accounts owned by the victims to a checking account he managed. Gordon additionally allegedly solid checks to steal an extra $102,852 from the couple’s checking account.
Gordon is believed to have coated up these crimes by stealing the identities of his victims and altering the mailing tackle of their accounts to his dwelling tackle. He additionally modified electronic mail addresses related to their accounts to an electronic mail tackle he created. This prevented the victims from receiving account statements that might have alerted them to the withdrawals he’s charged with making. The Division of Insurance coverage alleged that Gordon would then electronic mail the victims phony account statements that omitted the withdrawals.
The division mentioned it believes that there could also be extra victims within the case who’re unknown right now.