News: 2009 Press Release

Insurance Commissioner Steve Poizner today announced that Mark Brashear, 48, of San Marcos, was sentenced to three years in state prison by the San Diego Superior Court. 

"Stealing from California seniors is unacceptable and will not be tolerated," said Commissioner Poizner.  "Any agent or broker who purposely misleads consumers - especially seniors - will be prosecuted and put behind bars, where they belong." 

On February 19, Brashear pled guilty to two felony counts of grand theft against an elder. 

Upon receiving complaints from seniors alleging Brashear misrepresented their investments, CDI's Enforcement Branch launched an investigation. The investigation revealed that Brashear initially invested senior clients' money into legitimate annuity accounts, as requested by the clients. After a period of time, Brashear allegedly persuaded his clients to invest in American First Fidelity, or AFF, promising higher returns on their investments. He purportedly failed to disclose that he was the owner of AFF, and that their investment would not be in an annuity. Investigators further discovered that Brashear allegedly used the victims' money for personal expenses. According to investigators, the victims' funds were not placed into any legitimate investment. 

Brashear's alleged schemes took place between February 2004 and August 2005. There were a total of five senior victims who incurred losses of more than $300,000 as a result of his purported scamming.

The San Diego County District Attorney's Office prosecuted this case. 

Commissioner Poizner oversees sixteen CDI Enforcement Branch regional offices throughout the state.  Close to 1900 insurance fraud-related arrests have been made by the Department of Insurance's Enforcement Branch since Commissioner Poizner took office in 2007 - more arrests than have been made during any other two year period, under any previous insurance commissioner.