STATE OF OHIO
DEPARTMENT OF INSURANCE
50 WEST TOWN STREET
3® FLOOR, SUITE 300
COLUMBUS, OHIO 43215
IN RE:
SUITABILITY OF GREGORY OLIVER JILLIAN FROMENT
NPN: 282732 : DIRECTOR
TO BE LICENSED AS AN INSURANCE
AGENT IN THE STATE OF OHIO :
NOTICE OF OPPORTUNITY FOR HEARING
‘NOTICE OF INTENT TO REVOKE
‘The Ohio Department of Insurance (“Department”), by and through the Superintendent,
is charged with the responsibility of administering and enforcing Title 39 of the Ohio Revised
Code (“R.C.”) and the rules and regulations adopted thereunder.
‘The Department, on behalf of the Superintendent, has conducted an investigation of the
activities of Greg Oliver (“Oliver”), who currently holds a resident insurance agent license in the
State of Ohio. As a result of such investigation, the Department alleges that Oliver has committed
lations of the laws and regulations of this State and that he is not suitable to be licensed as an
insurance agent in the State of Ohio.
In accordance with R.C. Chapter 119 and Title 39, Oliver is hereby notified that the
‘Superintendent intends to suspend, revoke, or refuse to renew his license as an insurance agent in
the State of Ohio and/or impose any other sanction authorized by R.C. 3905.14(D), including
civil penalties and/or administrative costs. The grounds for such action are alleged below.
COUNT ONE
On or about April 4, 2014, Oliver received approximately $30,000 from a
consumer to be placed in an annuity. Oliver failed to forward the money received
to the insurance company.
‘Section 3905.14(B)(4) of the Revised Code provides that the Superintendent may
revoke the license of an agent for improperly withholding, misappropriating, or
converting any money or property received in the course of doing insurance
business,
COUNT TWO
On or about January 23, 2015, Oliver received approximately $30,000 from a
‘consumer to be placed in an annuity. Oliver failed to forward the money received
to the insurance company.Section 3905.14(B)(4) of the Revised Code provides that the Superintendent may
revoke the license of an agent for improperly withholding, misappropriating, or
converting any money or property received in the course of doing insurance
business.
COUNT THREE
On or about June 7, 2018, Oliver received approximately $50,000 from a
consumer to be placed in an annuity. Oliver failed to forward the money received
to the insurance company.
Section 3905.14(B)(4) of the Revised Code provides that the Superintendent may
revoke the license of an agent for improperly withholding, misappropriating, or
converting any money or property received in the course of doing insurance
business.
FOUR
On or about March 3, 2016, Oliver received approximately $20,000 from a
consumer to be placed in an annuity. Oliver failed to forward the money received
to the insurance company.
Section 3905.14(B)(4) of the Revised Code provides that the Superintendent may
revoke the license of an agent for improperly withholding, misappropriating, or
converting any money or property received in the course of doing insurance
business.
IT FIVE
On or about December 14, 2016, Oliver submitted a fabricated document that
‘caused himself to be designated as the beneficiary of an annuity that he had sold
toa consumer.
Section 3905.14(B)(26) of the Revised Code provides that the Superintendent
may revoke the license of an agent for submitting or using a document in the
conduct of the business of insurance when the person knew or should have
known that the document contained a writing that was forged.
COUNT six
The allegations as contained in Count Five are hereby incorporated as if fully
rewritten herein.
Section 3905.14(B)(19) of the Revised Code provides that the Superintendent
may revoke the license of an agent for causing of permitting a policyholder or
applicant for insurance to designate the insurance agent as the beneficiary of a
policy or annuity sold by the agent.
COUNT SEVEN
On or about April 25, 2017, Oliver withdrew funds in the amount of
approximately $10,000 from a consumer's annuity without the consumer's
consent.Section 3905.14(B)(4) of the Revised Code provides that the Superintendent may
revoke the license of an agent for improperly withholding, misappropriating, or
converting any money or property received in the course of doing insurance
business.
COUNT EIGHT
On or about April 4, 2018, Oliver withdrew funds in the amount of
approximately $10,000 from a consumer's annuity without the consumer's
consent.
‘Section 3905.14(B)(4) of the Revised Code provides that the Superintendent may
revoke the license of an agent for improperly withholding, misappropriating, or
converting any money or property received in the course of doing insurance
business.
COUNT NINE
On or about November 24, 2014, Oliver submitted a document that caused
himself to be designated as the beneficiary of an annuity that he had sold to a
consumer.
Section 3905.14(B\19) of the Revised Code provides that the Superintendent
‘may revoke the license of an agent for causing or permitting a policyholder or
applicant for insurance to designate the insurance agent as the beneficiary of a
policy or annuity sold by the agent.
COUNT TEN,
On or about November 24, 2014, Oliver submitted a document that caused
himself to be designated as the beneficiary of an annuity that he had sold to a
consumer.
Section 3905.14(B)(19) of the Revised Code provides that the Superintendent
may revoke the license of an agent for causing or permitting a policyholder or
applicant for insurance to designate the insurance agent as the beneficiary of a
policy or annuity sold by the agent.
c VEN
On or about March 24, 2015, Oliver withdrew funds in the amount of
approximately $93,100 from a consumer's annuity without the consumer's
consent.
Section 3905.14(B)(4) of the Revised Code provides that the Superintendent may
revoke the license of an agent for improperly withholding, misappropriating, or
converting any money or property received in the course of doing insurance
business.