Former insurance agent Steven Gordon, 67, of Camarillo, Calif., was arraigned last week on 21 felony counts of grand theft, forgery, identity theft, and credit card fraud after allegedly stealing more than $1 million from three former clients.
“The Department of Insurance is responsible for enforcing standards of conduct for insurance agents to protect consumers,” said California Insurance Commissioner Ricardo Lara. “Mr. Gordon had a fiduciary responsibility to represent his clients’ best interest. Instead he allegedly stole more than $1 million dollars from them, putting his greed above their needs. The Department of Insurance will always persist in investigating and stopping insurance professionals who put their clients at financial risk.”
The Department of Insurance launched an investigation after a life insurance company reported suspicious withdrawals from one of their customer’s accounts. It was discovered that Gordon, as owner of Geetis Group, Inc., allegedly made six electronic transfer funds, totaling $103,520, from the victim’s annuity account to an account that he controlled.
He also allegedly stole $70,000 from that same victim’s savings account, charged nearly $100,000 to their credit card, and forged checks to steal approximately $310,000 from their bank account.
During the investigation, the department discovered two additional victims, a husband and wife, state regulators say. Gordon allegedly made dozens of electronic transfers, totaling $679,934 from multiple annuity accounts owned by the victims to a bank account that he controlled. He also forged bank checks to steal an additional $102,852 from their bank account.
The investigation revealed Gordon concealed his crimes by stealing the identities of his victims and changing the mailing address of the accounts to his home address, regulators say. He also changed the email addresses associated with his victims’ accounts to an email address that he created.
This prevented the victims from receiving account statements showing evidence of the withdrawals he was making. Gordon would then mail the victims falsified account statements he created that omitted the withdrawals.
There may be more victims in this case who are unknown at this time, state officials say. Anyone with information about these crimes or similar crimes involving Gordon, should contact Department of Insurance at (661) 253-7500. Consumers may also report alleged incidents of fraud to the Department online at http://www.insurance.ca.gov/0300-fraud/reportingfraud.cfm.
The Department revoked the license of Gordon and Geetis Group, Inc. on April 6, 2021.
Gordon was arrested and booked into custody on Aug. 26 by the Ventura County Sheriff’s Office. Gordon is scheduled to return to court on Oct. 26. This case is being prosecuted by the Ventura County District Attorney’s Office, Fraud and Technology Crimes Unit.