Oklahoma Insurance Agent Accused of Defrauding Elderly Couple

January 17, 2014
Handcuffed

Tulsa insurance agent Presley Keith Dennis has been arrested and accused of defrauding a Muskogee couple out of nearly $300,000, the Oklahoma Insurance Department reported. The arrest follows an investigation by the department’s anti-fraud unit. The victims, an 80-year-old man and his 68-year-old wife, told investigators that Dennis convinced them to withdraw $300,000 from their annuities and invest it in his company, Dennis Investments, an unlicensed investment firm. They also said Dennis persuaded them to create a joint checking account with him so he could access the money to make investments. Instead of investing the money, Dennis allegedly spent it on past due child support, country club memberships and restaurants. Dennis is charged with one count of exploitation of the elderly. He surrendered to Muskogee County authorities on Jan. 14. His insurance license is currently expired. Source: Oklahoma Insurance Department

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Latest Comments

  • January 27, 2014 at 2:52 pm
    insurancepro2 says:
    Completely disgusted. Who would invest 'blindly'- sadly, many seniors. This agent should do time and then community service. I'm thankful that my parents are more savy than... read more
  • January 21, 2014 at 2:52 pm
    txmouthbreatherboogereatertx says:
    Go figure! A guy with three first names, one of which was named after Elvis, that is from part of the Nether world of 'Murrica. Screw being a used car sales man, this guy is ... read more
  • January 20, 2014 at 1:21 pm
    Libby says:
    "...who would invest $300,000 completely blindly?" An 80 year-old trusting soul that didn't know any better. The better question is "who would TAKE $300,000 from an elderly co... read more
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