Washington Warns Against Ex-Insurance Agent

Washington’s Office of the Insurance Commissioner has announced that a cease and desist order was issued against Gary A.Wyche of Vancouver for selling insurance without a license.

Wyche surrendered his Washington state license on Sept. 28, 2006, in lieu of revocation for professional misconduct. The Insurance Division of the Oregon Department of Consumer and Business Services revoked his Oregon license on Sept. 19, 2005.

Wyche was arrested on April 20 this year for alleged forgery, money laundering, and acting as an insurance agent without a license. According to theWashington Insurance Commissioner’s investigation, Wyche continued to transact insurance business in Washington and Oregon by selling annuities and diverting the premium into his personal account. He’s currently out on bail pending trial. His business associate, Tera Gardner, also was issued an order revoking her license for professional misconduct on June 5.

Wychee primarily conducted his illegal activities in the Portland/Vancouver area.

Anyone who purchased an insurance product from Gary Wyche since Sept. 28, 2006 is encouraged to contact Ted Bader at the Insurance Commissioner’s office at 36-725-7049.

Selling insurance without a license is a class B felony and subject to 10 years in prison and/or a $20,000 fine.

Source: OIC