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Jul 25, 2022 by |

Los Angeles Financial Elder Abuse Attorney: Fraud Investigation Leads To Arrest Of Insurance Agent Who Allegedly Stole From Elderly Customer

ATTORNEY NEWSLETTER

Department Of Insurance Commissioner Announces Arrest

Employees Reported Agency Irregularities

Arrest Warrant Issued Following Investigation

All seniors are potential victims to financial predators, including insurance agents and other salespeople, bankers, trustees, conservators, financial advisors, brokers, caregivers, contractors, second spouses, stepchildren, girlfriends or boyfriends and anyone who holds a power of attorney for the senior.  Financial elder abuse causes billions of dollars of losses to older Americans and their families every year.  In many cases, the results are devastating.  Whatever the form or amount, financial elder abuse is a crime and a basis for civil lawsuits to recover from the abuser.  See Cal. Penal Code § 368 and Cal. Welf. & Inst. Code § 15610.30 (definition of financial elder abuse for civil liability).  Evans Law Firm, Inc. represents seniors here in San Francisco and throughout California who suffer financial elder abuse at the hands of insurance agents, caregivers or others who have defrauded a senior or have misused their access to a senior’s money and taken money for themselves.  If you or an older loved one have been the victim of financial elder abuse in Los Angeles or elsewhere in California call us today at (415)441-8669. Our toll-free number is 1-888-50EVANS (888-503-8267).

Insurance Agent Arrested For Alleged Theft From Elderly Client

California Department of Insurance (DOI) Commissioner Ricardo Lara recently announce the arrest of an insurance agent for allegedly stealing from his 93-year-old client.[1] According to the DOI, an insurance fraud investigation led to the arrest yesterday of the agent on multiple charges of elder abuse, grand theft, and identify theft.   The agent’s alleged victims included a prominent art dealer and philanthropist who passed away in 2018 at age 93. The Department of Insurance investigation found that the agent allegedly diverted over $75,000 from the decedent’s accounts while acting as his insurance agent.  The arrest came after the suspect failed to appear for arraignment in felony charges filed by the San Diego County District Attorney.   The agent faces 45 counts involving financial elder abuse, grand theft and identity theft.  According to a department press release, the DOI began the investigation after learning from former employees of the defendant that he allegedly kept premiums that should have been sent to the insurance company.

Protecting Older Loved Ones

To safeguard your older loved one from financial abuse, review all financial records and bills continually.  You need to review all of an older person’s accounts, not just their checking account.  As the reported case illustrates, money can be diverted from insurance policies, premium payments, and also retirement, pension and annuity benefits.  Accompany older loved ones to any meetings they have with insurance agents, financial advisors, or planners.  Do not let them sign over any benefits or write any checks without your oversight.  Unscrupulous insurance agents, advisors and others prey on seniors quickly.  One meeting alone can be disastrous. Discourage them from attending free lunch seminars and other high-pressure sales gatherings.  Most importantly – never ever allow the senior to give a caregiver, insurance agent or advisor a Power of Attorney or a blank check.  If you suspect abuse, call elder law counsel to help you pursue all available remedies against anyone responsible for abuse, including an award of attorneys’ fees and costs for bringing your suit.

Contact Us

If you or someone you love is the victim of any type of financial elder abuse in Los Angeles or elsewhere in California, call Ingrid M. Evans at Evans Law Firm, Inc. at (415) 441-8669, or by email at <a href=”mailto:info@evanslaw.com”>info@evanslaw.com</a>. Our toll-free number is 1-888-50EVANS (888-503-8267).

[1] Evans Law Firm, Inc. was not involved in the reported case in any way.

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