News: 2008 Press Release

SACRAMENTO ― Insurance Commissioner Steve Poizner today announced the sentencing of a former insurance agent who defrauded an elderly couple of nearly $300,000. 

"It is unfathomable that an individual would swindle an elderly couple out of their life savings," said Commissioner Poizner.  "I am outraged that scam artists have no qualms about hurting our most vulnerable citizens, and I simply will not stand for it.  My teams of investigators continue to hunt down fraud perpetrators, and when we find them, we'll put them in jail where they belong."

On January 16, 2008, Gary Michael Jenkins, 59, of El Cajon, was sentenced on felony charges of theft from an elderly couple.  Jenkins was sentenced to serve a two-year prison term and pay $291,576 in restitution to the victims' estate, in addition to $5,000 in fines. 

In an investigation in which the California Department of Insurance (CDI) assisted the El Cajon Police Department and the San Diego County District Attorney's Office, it was determined that between June 1, 1994 and August 31, 2002, Jenkins became the trustee of his elderly client's estate.  As an agent selling life insurance products, Jenkins manipulated a bond he formed with his clients to become trustee of their estate, and to steal nearly $300,000 without the victims' knowledge or consent.  Additionally, Jenkins created false documents to imply that the money he withdrew from the trust was invested legitimately.  A family member of the victims discovered the theft on or about September 16, 2004, and reported the crime to the El Cajon Police Department. 

The San Diego County District Attorney's Office prosecuted this case.  A restitution hearing will be held on February 22, 2008, in San Diego County. 

If anyone would like to report insurance fraud, Commissioner Poizner urges them to contact the Department of Insurance at 1-800-927-HELP.