Johnny Ray Jackson, a former insurance agent from Gallatin, Tennessee, has been sentenced to 10 years in prison for illegally selling insurance products. Although most of the prison time was suspended by the judge, Jackson will still serve a portion behind bars.
Jackson, 55, lost his insurance license back in 1999 but continued to operate in the industry. Officials began investigating him in 2020 after reports surfaced that he and his employees enrolled people in insurance policies they never agreed to. There were also claims that Jackson mishandled annuity funds, moving money without permission.
In 2023, Jackson and five others faced indictments related to these actions. Before the recent legal troubles, the Tennessee Department of Commerce and Insurance had already taken steps to stop Jackson. In 2018, they issued a cease-and-desist order to prevent him from selling insurance without a valid license.
This case highlights the risks consumers face when dealing with unlicensed agents. Jackson’s continued activity despite losing his credentials shows the importance of careful oversight in the insurance market. Authorities hope the sentence will send a clear message about the consequences of breaking these rules.