Investigators with the CDI Criminal Investigations Branch served an Order of Summary Revocation on John Blanton Breland, a 52-year-old Lodi insurance agent. The license revocation became effective March 6. According to investigators, Breland’s motive stemmed from personal financial problems as a result of substantial gambling losses.
Insurance Commissioner Harry Low issued the order, dated Jan. 29, 2001, revoking Breland’s license after he pled guilty in the San Joaquin Superior Court to four felony counts. Breland pled guilty to two counts of embezzlement, one count of theft from an elder or dependant, and one count of False Statement to Sell or Buy Securities. According to investigators, Breland would solicit clients to either make an investment or purchase an annuity, and then he would divert some-or all-of the money to his own personal account.
Breland’s sentencing date is set for Oct. 18, 2001. He has already been ordered to pay more than $300,000 in restitution to four victims.
Topics Agencies
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