The California Department of Insurance has revoked the license of an agent accused of fraud, forgery and grand theft involving senior citizens.

Ghassan Ibrahim, 46, of Stockton, Calif., a licensed insurance agent in the state since 1989, lost both his life and variable contracts licenses in the state as a result of the allegations, according to the department.

According to an arrest warrant issued by the San Joaquin County Superior Court as a result of a regulatory investigation, Ibrahim allegedly forged signatures of a number of senior citizens on insurance applications in order to collect commissions. He also is accused of using fictitious names to create insurance policies for additional commissions.

Ibrahim was fired from the life insurance company, where he worked from May 2002 until February 2009, after the company claimed he had submitted fraudulent and illegitimate applications, forged signatures, misrepresented premium amounts to applicants, submitted applications with falsified information and posed as an applicant during telephone personal history interviews, according to regulators.

The company told the California Department of Insurance that Ibrahim owes $23,275 he obtained in commissions through his alleged illegal activity.

Another company to which Ibrahim allegedly submitted false applications on 84 instances claims the former agent owes it $54,200 in commissions he received, regulator said.

Ibrahim is scheduled to enter a plea to the felony charges of fraud, forgery and grand theft Jan. 22 in San Joaquin County Superior Court.