COLTON INSURANCE FRAUD
Roland Colton is a convicted felon.
Colton as a convicted felon unlawfully operated Insurance Ventures, which was prohibited by law.
"Vesta maintains that the Agreement is an illegal contract by virtue of the fact that it has facilitated and continues to facilitate the commission of multiple crimes by IV’s de facto owner, Roland Colton. Specifically, it is Vesta’s position that the Agreement has and continues to perpetuate the violation of 18 U.S.C. section 1033, as well as the California regulations promulgated pursuant to 18 U.S.C. section 1033, by allowing Mr. Colton to “engage in the business of insurance” as a convicted felon without the approval of the California Department of Insurance. Vesta further contends that the Agreement has facilitated the violation of California Insurance Code sections 1733 and 1734 -- a separate crime -- by allowing IV and Mr. Colton to improperly divert Vesta’s entrusted policyholder premium funds for the payment of unrelated obligations of Insurance Ventures to third parties. A finding by this Court that the Agreement is illegal for any or all of the foregoing reasons should necessitate the dismissal of IV’s entire action.
It is well-established under California law that if an illegal contract is the foundation of a lawsuit, recovery is denied in its entirety. Hooper v. Barranti, 81 Cal. App. 2d 570, 576 (1947). Here, there can be no denying that the Agreement provides the basis of IV’s lawsuit."
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