A pair of Visalia brothers were arrested Thursday for suspicion of theft from an elder, burglary and fraud in the sale of fraudulent securities to fellow senior citizens.
Ronnie Carter, 68, and Jimmie Carter, 69, were arrested and booked into the Fresno County Jail following an investigation by the state Department of Insurance. Insurance investigators said the pair face a total of 13 felony counts. The case is being prosecuted by the Fresno County District Attorney’s Office. Bail for Ronnie Carter was set at $355,000, while bail for his brother Jimmie was $325,000.
The investigation began in 2011, and investigators said the two brothers bilked three senior victims out of $552,000 over 11/2 years. According to investigators, Ronnie Carter was a longtime insurance agent for two of the victims, but neither brother was licensed to sell investments. The pair are accused of providing phony investment contracts and notes, hiding where their victims’ money was invested, and issuing minimum investment payments.
Investigators are looking for other potential victims of the Carter brothers or State Wide Financial & Insurance. People who believe they may have been defrauded can contact the Department of Insurance regional office in Fresno at (559) 440-5900.