PHOENIX (AP) -- Arizona authorities say a woman has been arrested in connection with a nearly $17 million annuity fraud scheme.
Officials with the state Department of Insurance say 33-year-old Jimmica Guess is being held on suspicion of fraudulent schemes, theft obtained by misrepresentation, theft of controlled property, forgery and aggravated identity theft.
They say Guess has been licensed to sell annuities and life insurance policies in Arizona since April.
Insurance officials say Guess made at least $355,000 in commissions on 22 separate annuities she claimed to have sold. The annuities ranged in value from $300,000 to $900,000.
The insurance companies paid the commissions when the policies and checks were received.
Authorities say the checks were written on bank accounts that were either closed or had insufficient funds.