Former insurance agent who admitted stealing more than $220K from clients gets probation [Breaking]
A former insurance agent who pleaded guilty to stealing more than $220,000 from his clients, including a late prominent art dealer and philanthropist who lived in Carlsbad, was placed on probation this week for a term of two years and ordered to repay the victims.
Ryan’s insurance licenses and licensing rights have since been revoked, state officials said. He has been banned from taking part in the insurance business.Ryan was sentenced Monday in Vista Superior Court after pleading guilty to two felony counts of financial elder abuse and grand theft of insurance premiums. He has credit for 323 days served in county jail.
Further investigation revealed Ryan took $87,000 from Juarez over the course of at least two years, the Department of Insurance said.“A measure of justice has been delivered for 12 of Defendant Ryan’s clients in San Diego and Riverside Counties, including vulnerable elders, who fell prey to Ryan’s schemes,” San Diego County District Attorney Summer Stephan said in a statement.
The Department of Insurance said Ryan sold insurance under the names “Calinsured,” “Greater Palm Springs Insurance” and “PS Independent Insurance.”
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