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
Was this article valuable?
Here are more articles you may enjoy.

Georgia, Florida Insurers Facing New Scrutiny, Regulations After Election
Florida Agency Owner and Unlicensed Agent Charged in Fake Certificates Scheme
King Tides Inundate Streets and Flood Homes and Businesses on Both US Coasts
Allstate Q3 Net Income Drops About 45% on Higher Catastrophe Losses 

