WATERLOO - An insurance agent accused of multiple instances of fraud has accepted permanent revocation of his license.

Jack Straw, formerly of Dunkerton, signed away his ability to appeal Nov. 12.

"By executing this consent, I understand that I am waiving my rights to a hearing, to confront and cross-examine witnesses, to produce evidence and to judicial review," the document states.

Iowa Insurance Commissioner Susan Voss also permanently barred Straw from reapplying for an insurance license in Iowa and from applying for a securities agent license in the state.

The document, made available Monday online, states Straw "used fraudulent or dishonest practices in the course of doing business … and lacks the character and competency necessary to hold an insurance license."

The Iowa Insurance Division in October accused Straw of altering and misrepresenting policies, misleading clients, forging signatures and making unauthorized withdrawals from clients' annuity policies. The agency also alleged Straw converted funds for personal use, issued reimbursement checks that bounced, threatened clients and sold securities though not licensed for such transactions.

The agency subsequently revoked Straw's insurance license for life.

Straw owned and operated Benefit Services with offices in Waterloo and Clear Lake. He and his wife, the Rev. Beth Straw, moved to Cedar Rapids in July.

The Iowa Insurance Division referred the case to the U.S. Postal Inspection Service and to the Federal Bureau of Investigation. The agency initially said Straw's clients included residents in Waterloo, Dunkerton, Mason City, Clear Lake and Cedar Rapids. But later the Iowa Insurance Division said Straw may also have sold policies in Wisconsin and Minnesota.

Straw was an independent agent with agreements to represent 49 companies, according to the Iowa Insurance Division. Anyone with concerns or questions about dealings with Straw or his company, Benefit Services, can call the Iowa Insurance Division at (877) 955-1212.