John Blanton Breland of Lodi pled guilty to four felony counts last month in San Joaquin Superior Court. The 52-year-old insurance agent was originally charged with 11 felony counts consisting of theft from an elder or dependant, grand theft, sales of unqualified securities, and false statements to sell securities.
According to CDI investigators, Breland solicited victims to either make some sort of investment or to purchase an annuity. He would then divert some or all of the money for his own personal use-such as using the funds to pay for personal financial problems accrued from gambling losses. One of the terms of Breland’s formal probation agreement is that he shall not gamble or be within 25 yards of any gambling establishment.
The CDI is seeking revocation ofBreland’s license based upon the felony conviction.
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