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Sep 8, 2022 by |

San Francisco Financial Elder Abuse Attorney: Insurance Agents and Financial Elder Abuse


Insurance Agent Diversion Of Funds

Dishonest Agent Accesses Accounts

Former Employees Alerted Authorities Of Irregularities

Financial elder abuse causes billions of dollars of losses to older Americans and their families every year.  In many cases, the results are devastating.   All seniors are potential victims to financial predators, including in-home caregivers, retirement planners, insurance agents and other salespeople, bankers, trustees, conservators, financial advisors, brokers, contractors, second spouses, stepchildren, girlfriends or boyfriends and anyone who holds a power of attorney for the senior.  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 call us today at (415)441-8669. Our toll-free number is 1-888-50EVANS (888-503-8267).

Insurance Agent Financial Elder Abuse

In one recently reported case,[1] an insurance fraud investigation by the California Department of Insurance led to the arrest earlier this year of an insurance agent on multiple charges of elder abuse, grand theft, and identify theft.  The agent’s victims reportedly included a prominent art dealer and philanthropist who passed away in 2018 at age 93. The Department of Insurance investigation found that the agent had diverted over $75,000 from the decedent’s accounts while acting as his insurance agent.  The agent faces 45 counts involving financial elder abuse, grand theft and identity theft.  The Department of Insurance began the investigation after learning from former employees of the agent that he allegedly kept premiums that should have been sent to the insurance company.

Protecting Older Loved Ones

Whenever a new financial advisor or insurance agent approaches you or an older loved one, always run a background check on the individual and the firm he or she claims to work for.  You may be able to spot earlier violations or charges brought against that individual. To safeguard your older loved one from financial abuse, review all financial records and bills continually.  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 San Francisco or elsewhere in California, call Ingrid M. Evans at Evans Law Firm, Inc. at (415) 441-8669, or by email at <a href=””></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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