John Blanton Breland, 54, was sentenced Nov. 26 in the San Joaquin County Superior Court to four years in State prison. The sentencing is the result of a guilty plea to two felony counts of embezzlement, one count of theft from an elder or dependent, and one count of false statement to sell or buy securities. As a result of Breland’s plea, the California Department of Insurance (CDI) had revoked the insurance license of Breland effective March 6, 2001.
According to investigators, Breland allegedly solicited clients to either make investments or purchase an annuity. He allegedly would divert some or all of the money he received from his clients to his own personal use. Investigators stated Breland’s motive derived from personal financial problems due to substantial gambling losses. Breland has been ordered to pay over $300,000 in restitution to four victims. Many of Breland’s victims were senior citizens.
The criminal conviction and sentence stemmed from a joint investigation conducted by the CDI’s Criminal Investigations Branch’s Investigation Bureau and the San Joaquin County District Attorney’s Office.
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