Additional Charges of Exploitation of the Elderly Filed Against Virden

TULSA – Oklahoma Insurance Commissioner John D. Doak announced that addition charges have been filed in Kay County against Marshall Virden. A subsequent arrest warrant has been issued and bond set at $50,000 for a single count of Exploitation of an Elderly Person by Trick or Deception. Assistant District Attorney Ed Goodman of Kay County filed the charge.

 

Oklahoma Insurance Department investigators found that Virden had gained the confidence of a couple residing in Ponca City during an investor’s seminar in 2007. Virden used his existing relationship as their insurance agent to convince them to cash in their annuities, claiming he would use the money to purchase silver for the victims. The investigation revealed that no silver was bought for the victims and that Virden had instead embezzled over $23,000 of the victim’s money.

 

A press conference is scheduled for 5:00 pm at the Triad II Building, 7645 E. 63^rd St., Suite 102 on April 4, 2012 to discuss the widening scope of Virden’s criminal activity.

 

Please contact the Oklahoma Insurance Department’s Anti-Fraud Unit at 405-521-6614 if you believe you have been victimized.

 

An alternate contact for the Oklahoma Insurance Department is Deputy Commissioner Paul Wilkening 405-919-9873.

 

###