A former insurance agent from Los Angeles has been charged with financial elder abuse. He was arrested and booked into jail on four felony counts of financial elder abuse. The announcement of the arrest was made by the California Insurance Commissioner. The defendant in this case is the nephew of the alleged victim. Los Angeles financial elder abuse attorneys say that family members are often the perpetrators when the elderly are taken advantage of.
California Insurance Commissioner Dave Jones stated that insurance agents that prey on the elderly are particularly loathsome. He also stated that his office will continue to vigorously prosecute insurance agents who prey on vulnerable seniors. Los Angeles financial elder abuse attorneys are glad that the California Insurance Commissioner decided to intervene in this case.
The defendant in this case was a licensed life insurance salesman. In 2005, he sold a life insurance policy to his 78 year-old aunt. In April of 2009, the victim received a letter from her insurance company notifying her that the mailing address for her policy had been changed to the defendants address. The change of address was done without the victim’s knowledge or consent. During the time period of April 2009 and April 2010, the defendant allegedly made four withdrawal requests to the life insurance company. The defendant forged his aunt’s signature on the request forms. All four checks were mailed to the defendant’s address. He allegedly cashed two of the checks and deposited the other two into his personal accounts. The victim allegedly lost more than $110,000 due to the actions of the defendant. Los Angeles financial elder abuse attorneys remind the public that seniors are taken advantage of on a regular basis.
The financial elder abuse went unnoticed until March of 2012. At that point, the victim contacted the insurance company regarding the status of her policy. The defendant was able to hide his crimes by changing the address, phone number, and contact information from the victim’s to his own information. If convicted, the defendant faces up to four years in state prison, fines and victim restitution.
Evans Law Firm, Inc. handles elder abuse, financial elder abuse, physical elder abuse, annuity fraud, consumer fraud class actions, insurance and banking fraud cases. If you think that you have witnessed or are the victim of elder abuse, or financial fraud then contact Evans Law Firm, Inc. at 415-441-8669 for a free and confidential consultation, or email us at [email protected]