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Press Release

Department of Insurance Issues Cease & Desist Orders against Milford, Ohio Insurance Agent



COLUMBUS – Citing evidence of misappropriating more than $500,000 from Ohio consumers, utilizing forged documents, and causing policyholders to designate himself as the beneficiary of annuities he sold, the Ohio Department of Insurance took action against Milford, Ohio insurance agent Gregory Oliver and his company, Oliver Financial Services Corporation (“OFS”).

The department issued two orders against Oliver and OFS commanding Oliver to immediately cease his fraudulent, coercive, and dishonest practices. In addition, the department initiated proceedings to revoke his ability to operate under Ohio’s insurance laws.

“Mr. Oliver violated the trust of his clients, he harmed Ohio consumers, and now we are holding him accountable for his actions,” said Jillian Froment, Director of the Ohio Department of Insurance.  “Thanks to the work of our investigators, we were able to uncover Mr. Oliver’s fraudulent scheme and now we are working to prevent him from doing business in Ohio.”

Gregory Oliver obtained his Ohio insurance license in 1989 and holds numerous appointments with insurance carriers who offer life insurance and annuity products.  He is the President of OFS, a licensed insurance agency located in Milford, Ohio. 

After receiving a tip the department initiated an investigation, and as a result of the investigation, obtained evidence to support that from at least 2014 through 2018, Oliver withheld, misappropriated or converted more than $500,000 from numerous consumers and their accounts without their knowledge or consent.  In addition, evidence supports that he submitted fabricated documents to insurance carriers in order to be designated as the beneficiary of insurance policies he had established or serviced.
The Department urges anyone who may have concerns about business dealings they have had with Mr. Oliver to call 1-800-686-1527 or visit www.insurance.ohio.gov to file a complaint.


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Ohio Department of Insurance
50 W. Town Street, Third Floor - Suite 300
Columbus, Ohio  43215
Mike DeWine, Governor | Jillian Froment, Director
General Info: 614-644-2658 | Consumer Hotline: 800-686-1526
Fraud Hotline: 800-686-1527 | Medicare Hotline: 800-686-1578