Arkansas Agent Arrested for Fraud

State Insurance Commissioner Mike Pickens announced the arrest of Steven Edward Gwin, who has been charged with a class D felony count of Fraudulent Insurance Act. A January 20, 2004 court date has been set in Pulaski County.

According to investigators with the Insurance Department’s Fraud Investigation Division, Gwin falsely indicated he had not been convicted of a crime on his application for licensure to sell insurance in the State of Arkansas. The Insurance Department later determined that Gwin had been convicted of fraud in federal court in Ohio in 1991, for which he served 20 months in jail and was placed on three years probation. Gwin submitted his application for an insurance license to the State of Arkansas on or about September 19, 2000. His license has since been revoked.

“We will not tolerate insurance fraud on any level in the State of Arkansas,” Commissioner Pickens said. “We will vigorously prosecute fraudulent insurance acts perpetrated on Arkansas insurance consumers.”

The Fraud Investigation Division of the Insurance Department is interested in speaking with anyone who might have done business with Steven Edwin Gwin or the companies he represented, Asset Management Group, and Senior Advisors. Comments or questions concerning Gwin may be directed to Fraud Investigator Jacquie Harper at 800-660-0888 or 501-371-2790.

Gwin was booked into the Pulaski County jail on December 9, 2003 and was released on $25,000 bond, pending his January court date.