FLORIDA DEPARTMENT OF FINANCIAL SERVICES FILED ALEX SINK CHIEF FINANCIAL OFFICER STATE OF FLORIDA JAN 21 2007 IN THE MATTER OF: ——— Bboketea ny: EU CASE NO.: 83714-07-AG ANGELICA M. BARRY / ADMINISTRATIVE COMPLAINT . TO: ANGELICA M. BARRY : OT-0 4 PPL 4315 Randy Parr Street Pt. Charlotte, Florida 33948 ANGELICA M. BARRY 314 Taylor Street Punta Gorda, Florida You, ANGELICA M. BARRY, license ID. #D065752, are hereby notified that the Chief Financial Officer of the State of Florida has caused to be made an investigation of your activities while licensed as an insurance agent in this state, as a result of which it is alleged: GENERAL ALLEGATIONS 1, Pursuant to Chapter 626, Florida Statutes, you, ANGELICA M. BARRY, are currently licensed in this state as a Life and Variable annuity agent (2-14); Life, Health and Variable annuity agent (2-15); Life irisurance agent (2-16); Life and Health insurance agent (2- 18); and Health insurance agent (2-40). | 2 At all times material to the dates and occurrences referred to herein, you were licensed in this state as an insurance agent. 3. Pursuant to Chapter 626, Florida Statutes, the Florida Department of Financial Services (“Department”) has jurisdiction over your insurance licenses and appointments. 4. At all time material to the dates and occurrences specified herein, the Money Tree Lending Group, Inc. transacted insurance or operated as an insurance company in Florida. 5. At no time material to the dates and occurrences herein did Money Tree Lending Group, Inc. posses a Certificates of Authority from the Department or the Office of Insurance Regulation to engage in the business of insurance or to operate as an insurance company in Florida, 6. Money Tree Lending Group, Inc. is not subject to any exception to the licensure requirement of the Florida Insurance Code in order to lawfully engage in the business of insurance or to operate as.an insurance company in Florida. 7. On May 11, 2005, the Circuit Court of Leon County Florida, issued an Order to Show Cause and Order to Seize Property, Case No. 2005 CA 1103, against Money Tree Lending Group, Inc., prohibiting the company from further engaging in unauthorized insurance business in this state and ordering the seizure by the Department of all financial assets held by the company. 8. At all times material to the dates and occurrences herein, you, ANGELICA M. BARRY, did directly or indirectly represent or aid Money Tree Lending Group, Inc., as indicated in the numbered Counts below, to unlawfully transact insurance in the State of Florida by the direct solicitation and sale of annuities to Florida insurance consumers. COUNT I 9. The above general allegations are hereby realleged and fully incorporated herein by reference. 10. In or about May 6, 2004, you, ANGELICA M. BARRY, as a licensed insurance agent, solicited J.M. of Punta Gorda, Florida to purchase an annuity issued by Money Tree Lending Group, Inc. 11. You, ANGELICA M. BARRY, received from J.M. $10,000 as the initial premium payment on the annuity. 12, At the time of your solicitation, inducement, representations concerning, and sale of the Money Tree Lending Group annuity to J.M., and at all times thereafter, Money Tree Lending Group was not authorized to transact insurance in Florida, and was not subject to any exception to the licensure requirement. You, ANGELICA M. BARRY, were clearly aware of or should have been aware of this fact, but failed to disclose this fact to J.M. 13. Based upon misrepresentations made by you, ANGELICA M. BARRY, J.M. entered into an annuity contract with the Money Tree Lending Group, Inc. . 14. J.M. has now lost access to his funds and it is uncertain at this time ifhe will recover all or any portion of the $10,000 that he invested with the Money Tree Lending Group, Inc. As a result, he has incurred a financial loss. IT IS THEREFORE CHARGED that you, ANGELICA M. BARRY, have violated or are accountable under the following provisions of the Florida Insurance Code and Rules of the Department of Financial Services which constitute grounds for the suspension or revocation of your licenses and appointments: (a) No person shall transact in this state, or relative to a subject of insurance resident, located, or to be performed in this state, without complying with the applicable provisions of this Code. [Section 624.11(1), Florida Statutes]; (b) Demonstrated lack of fitness or trustworthiness to engage in the business of insurance. [Section 626.61 1(7), Florida Statutes]; (c) Demonstrated lack of reasonably adequate knowledge and technical competence to engage in the transactions authorized by the license or appointment. [Section 626.611(8), Florida Statutes]; (d) Violation of any provision of this Code or any law applicable to the business of - insurance in the course of dealing under the licensure or appointment. [Section 626.621(2), Florida Statutes]; (e) In the conduct of business under the license or appointment, engaging in unfair methods of competition or in unfair or deceptive acts or practices, as prohibited under Part IX of this chapter, or having otherwise shown himself or herself to be a source of injury or loss to the public. [Section 626.621 (6), Florida Statutes]; (f) Knowingly making, issuing, circulating, or causing to be made, issued, or circulated any estimate, illustration, circular, statement, sales presentation, omission, or comparison which misrepresents the benefits, advantages, terms or conditions of any insurance policy. [Section 626.9541(1)(a)1, Florida Statutes. (g) No person shall, from offices or by personnel or facilities located in this state... directly or indirectly act as an agent for, or otherwise represent or aid on behalf of another, any insurer not being authorized to transact such business in this state. [Section 626.901(1), Florida Statutes]. COUNT IL 15. The above general allegations are hereby realleged and fully incorporated herein by reference. 16. On or about June 2, 2004, you, ANGELICA M. BARRY, as a licensed insurance agent, solicited J.8. of Lake Suzy; Florida to purchase an annuity issued by Money Tree Lending Group, Inc. 17. You, ANGELICA M. BARRY, received from J.8. $145,000 as the initial premium payments on the annuity. 18. At the time of your solicitation, inducement, representations concerning, and sale of the Money Treé Lending Group annuity to J.S., and at all times thereafter, Money Tree Lending Group was not authorized to transact insurance in F lorida, and was not subject to any exception to the licensure requirement. You, ANGELICA M. BARRY, were clearly aware of or should have been aware of this fact, but failed to disclose this fact to J.S. 19. Based upon misrepresentations made by you, ANGELICA M. BARRY, J.S. entered into an annuity contract with the Money Tree Lending Group, Inc. 20. J.8. has now lost access to his finds and it is uncertain at this time if he will recover all or any portion of the $145,000 that he invested with the Money Tree Lending Group, Inc. As a result, he has incurred a financial loss. . IT IS THEREFORE CHARGED that you, ANGELICA M. BARRY, have violated or are accountable under the following provisions of the Florida Insurance Code and Rules of the Department of Financial Services which constitute grounds for the suspension or revocation of your licenses and appointments: Sections 624.1 1(1); 626.611(7); 626.611(8); 626.621(2); 626.621(6); 626.9541(1)(a)1; and 626.901(1), Florida Statutes as more particularly alleged in Count I above. WHEREFORE, you, ANGELICA M. BARRY, are hereby notified that the Chief Financial Officer intends to enter an Order suspending or revoking your licenses and appointments as an insurance agent or to impose such penalties as may be provided under the provisions of Sections 626.611, 626.621, 626.681, 626.691, and 626.9521, Florida Statutes, and under the other referenced sections of the Florida Statutes as set out in this Administrative Complaint. NOTICE OF RIGHTS You have the right to request a proceeding to contest this action by the Department pursuant to sections 120.569 and 120.57, Florida Statutes, and Rule 28-107, Florida Administrative Code, The proceeding request must be in writing, signed by you, and must be _filed with the Department within twenty-one (21) days of your receipt of this notice. Completion of the attached Election of Proceeding form and/or a petition for administrative hearing will suffice as a written request. The request must be filed with the General Counsel as acting Agency Clerk, at the Florida Department of Financial Services, 612 Larson Building, 200 East Gaines Street, Tallahassee, Florida 32399-0333. Your written response must be received by the Department no later than 5:00 p.m. on the twenty-first day after your receipt of this notice. Mailing the response on the twenty-first day will not preserve your right to a hearing. YOUR FAILURE TO RESPOND IN WRITING WITHIN TWENTY-ONE (21) DAYS OF YOUR RECEIPT OF THIS NOTICE WILL CONSTITUTE A WAIVER OF YOUR RIGHT TO REQUEST A PROCEEDING ON THE MATTERS ALLEGED HEREIN AND AN ORDER OF REVOCATION WILL BE ENTERED AGAINST YOU. If you request a proceeding, you must provide information that complies with the requirements of Rule 28-107.004, Florida Administrative Code. As noted above, completion of the attached Election of Proceeding form conforms to these requirements. Specifically, your response must contain: (a) The name and address of the party making the request, for purpose of service; (b) A statement that the party is requesting a hearing involving disputed issues of material fact, or a hearing not involving disputed issues of material fact; and (c)’ A reference to the notice, order to show cause, administrative complaint, or other communication that the party has received from the agency. Ifa hearing of any type is requested, you have the right to be represented by counsel or other qualified representative at your expense, to present evidence and argument, to call and " cross-examine witnesses, and to, compel the attendance of witnesses and the production of documents by subpoena. Ifa | proceeding i is requested and there is no dispute of material fact, the provisions of section 120.57(2), Florida Statutes, apply. In this regard, you may submit oral or written evidence in opposition to the action taken by the Department or a written statement challenging the grounds upon which the Department has relied. While a hearing is normally not required in the absence of a dispute of fact, if you feel that a hearing is necessary, one will be conducted in Tallahassee, Florida, or by telephonic conference call upon your request. However, if you dispute material facts, which are the basis for the Department’s action, you must request an adversarial proceeding pursuant to sections 120,569 and 120.57(1), Florida Statutes. These proceedings are held before a State administrative law judge of the Division of Administrative Hearings, Unless the majority of witnesses are located elsewhere, the Department will request that the hearing be conducted in Tallahassee, Florida. Failure to follow the procedure outlined with regard to your response to this notice may result in the request being denied. All prior oral communication or correspondence in this matter shall be considered freeform agency action, and no such oral communication or correspondence shall operate as a valid request for an administrative proceeding. Any request for an administrative proceeding received prior to the date of this notice shall be deemed abandoned unless timely renewed in compliance with the guidelines as set out above. Mediation of this matter pursuant to section 120.573, Florida Statutes, is not available. No Department attorney will discuss this matter with you until the response has been received by the Department of Financial Services. DATED and SIGNED this__{\___ day of Sc.nuary. 2007. AA I ‘N CHANDLER Deputy Chief Financial Officer CERTIFICATE OF SERVICE I HEREBY CERTIFY that a true and correct copy of the foregoing ADMINISTRATIVE COMPLAINT and ELECTION OF PROCEEDING has been furnished to: ANGELICA M. BARRY, 4315 Randy Parr Street, Pt. Charlotte, Florida 33948 and 314 Taylor Street Punta Gorda, Florida 33950 by Certified Mail this {{ _day of Sonuory , 2007. Low (JAMES A. BOSSART, Division of Legal Servé 200 East Gaines St. 612 Larson Building Tallahassee, Florida 32399-033 (850) 413-4124

Docket for Case No: 07-000982PL