MORENO VALLEY — 33-year-old Joshua Eugene Barnes of Moreno Valley was arrested at an Inland Empire Starbucks and booked on two felony counts of grand theft and one of money laundering. Barnes is alleged to have submitted fraudulent annuity applications and personal checks to multiple life insurance carriers.
Evidence revealed that Barnes had submitted 17 fraudulent annuity applications to multiple life insurance companies using black checks. The checks were obtained from several individuals, including acquaintances, in order to secure advance commissions for himself.
Two fraudulent annuity applications were allegedly submitted, one for $850,000 and the other for $500,000, using two blank checks. One company paid commissions totaling $81,900 and discovered the checks Barnes submitted had bounced. After multiple attempts to get Barnes to repay, the insurer contacted the Department of Insurance and they began an investigation.
Barnes has been booked into the Riverside County Jail on $82,000 bail. His next court date is scheduled for June 28.
