Latest update from the California Dept of Insurance;
An insurance fraud investigation by the California Department of Insurance led to the arrest yesterday of 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 Department of Insurance investigation found that Ryan diverted over $75,000 from Juarez’s accounts while acting as his insurance agent.
The arrest comes after Ryan failed to appear for arraignment in felony charges filed on April 12 by the San Diego County District Attorney. Ryan faces 45 counts involving financial elder Abuse, grand theft and identity theft.
The Department of Insurance began the investigation after learning from former employees of Ryan’s 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. The Department 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.
The Department barred Ryan’s insurance license on May 12 under California law allowing for immediate suspension involving alleged fraudulent acts or acts of dishonesty.
Ryan 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 at (909) 919-2200.