Following the lead of several other states, California regulators have accused an Ohio-based annuities company of using unfair and deceptive practices to target elderly victims.

The California Department of Insurance levied a fine of $15,000 against Annuity Services Insurance Center of Medina, Ohio, also doing business as Investor’s Union LLC, and forced the company to surrender its license to do business in the state for five years.

Beginning in 2004, Investor’s Union sent out at least 235,000 unsolicited letters to California residents, stating that recipients “may have an annuity that has reached the end of its surrender period.” The letters advised recipients to contact the Annuity Service Insurance Center.

According to the department, those who responded were asked questions about their investments and assets and those who met qualifying standards received a scheduled appointment for an annuity/life insurance sales pitch.

The notices, however, failed to disclose that Investor’s Union LLC and the Annuity Service Insurance Center were not affiliated with the elderly recipient’s insurance company.

The action by California follows similar $15,000 fines assessed by regulators in Delaware and Wisconsin, and a civil penalty of $21,000 levied in Iowa for similar deceptive practices by Investor’s Union. Dating back to 2006, other states, including Missouri, Ohio, Kansas and Utah, have issued orders and hearings regarding the businesses’ practices.

“Misleading, deceptive, alarming and confusing, that’s what many of these advertisements are to the elderly,” California Insurance Commissioner Steve Poizner said in a statement. “Anytime we see a company operating in this manner we will make them stop and an effective way to do that is to issue a heavy fine.”