PALM SPRINGS – On May 24, 2022, investigators from the California Department of Insurance (CDI) Inland Empire Fraud Division in Palm Springs arrested insurance agent John Ryan, 64, of Palm Springs on multiple charges of elder abuse, grand theft, and identify theft.
Ryan’s alleged victims included Gregg Juarez, a prominent art dealer and philanthropist who passed away in 2018 at age 93. The CDI investigation found that Ryan allegedly diverted more than $75,000 from Juarez’s accounts while acting as his insurance agent.
Ryan was arrested after he failed to appear for arraignment on felony charges filed on April 12th by the San Diego County District Attorney. Ryan faces 45 counts involving financial elder abuse, grand theft and identity theft.
“CDI investigators and detectives work to protect consumers from fraudulent agents who steal from their clients. These investigative professionals are very good at their jobs and most definitely have their hands full investigating complaints and allegations throughout California,” said California Statewide Law Enforcement Association (CSLEA) President Alan Barcelona.
CDI began the investigation after learning Ryan’s former employees that he allegedly kept premiums that should have been sent to the insurance company. Ryan operated his former offices under the names of Calinsured, Greater Palm Springs Insurance, and PS Independent Insurance. CDI is pursuing its investigation and encourages current and former clients of Ryan’s to review their policies with their insurance company to verify the validity of their policy and ensure any funds entrusted to Ryan were sent to the insurance company as required under law.
CDI barred Ryan’s insurance license on May 12th under California law allowing for immediate suspension involving alleged fraudulent acts or acts of dishonesty.