Saturday, August 6 2022

December 22, 2021 – LOS ANGELES – Securities Marketing Representative Eugene “Gene” Bleecker has agreed to surrender his Market Title Insurance Certificate of Registration and accept a Prohibited from seeking another license from the California Department of Insurance to resolve the Department’s charge against him. In April 2021, the department alleged that Bleecker, a former employee of First American Title Company, had consistently violated anti-incentive laws because of his undue influence over a networking group that offered benefits to realtors.

Earlier this year, First American Title Company agreed to pay the department more than $ 1 million for its role in failing to oversee Bleecker’s involvement in the networking group.

“This action against one of the industry’s best-known title marketers should serve as a warning to anyone engaging in practices that violate California laws and may drive up prices for consumers,” said Insurance Commissioner Ricardo Lara. “My ministry is committed to vigorously investigating allegations of unlawful inducements to dismiss a securities firm that undermine fair competition. “

The ministry’s investigation found that Bleecker was inappropriately involved in a real estate networking group of about 600 members called the Advisory Group Real Estate Network, with chapters in the Santa Clarita, Antelope and San Fernando valleys. Bleecker was the group’s sole title marketing rep, deciding when and where to start new chapters, and providing direction on everything from who would speak at meetings to events the group would host.

The survey also found that group members received perks such as personalized video marketing, a touring bus trailer to display and promote the ads, social media training, and business coaching. These advantages created the possibility of a counterpart relationship with Bleecker due to his influence on the group. State law protects consumers from conflicts of interest in title insurance referrals that can inflate the cost of real estate transactions.

As part of the surrender of his license, which takes effect April 1, 2022, Bleecker has not admitted the prosecution’s allegations.

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