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 the 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 reported professional misconduct on June 5.
Wyche 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 (360) 725-7049.