SPRINGFIELD, IL. -- Illinois Director of Insurance Michael T. McRaith has revoked the insurance producer licenses of Jimmy L. Farr and JLF Financial Services, Inc. both of Wheaton, Illinois effective July 7, 2005. Mr. Farr and JLF Financial Services, Inc. had been licensed since August 16, 2002 and November 11, 2003 respectively.

Mr. Farr and JLF Financial Services, Inc. were licensed to sell life, accident, health, fire and casualty. The licenses were revoked as a result of an investigation, which revealed that the Licensee had improperly withheld premiums of $12,987.10, misappropriated premiums required to be held in a fiduciary capacity, failing to label Premium Fund Trust Account properly, and failing to notify the Division in 30 days of an address change as required by law.

Under the Illinois Administrative Review Law he may have the right to appeal and request a stay of the Order. A copy of the Director’s Order is attached.