Issaquah insurance agent accused of stealing $1M from senior citizens

The Issaquah Reporter says that an Issaquah insurance agent is accused of first-degree theft in bilking elderly victims between the ages of 74 to 90 of money from their Bankers Life annuities. The insurance agent, who will not be named until she is charged, is accused of stealing more than $1 million to fund a lavish life style including clothes, jewelry, a trip and payments to online psychics.

The alleged thefts include:

  • $130K taken from a Bellevue man, 80
  • $25K from a Renton woman, 90
  • $60K from a Seattle man
  • $484,500K form a Renton woman, 74.

The agent’s scheme included having the victims write checks that they thought were investing in Bankers Life but instead she had the victims write the initial and surnames of her two daughters, deposited the checks and then transferred the money into her own account.

The Washington State Insurance Commissioner Mike Kreidler said:

“Vulnerable people trusted this agent with much of their life’s saving. And she just pocked the money.”

The Insurance Commissioner says that one tipoff that a broker or agent has deceived a consumer for personal gain is if the client does not receive an insurance ID card or a copy of the policy.

Financial abuse is one form of elder abuse. At The Farber Law Group, we represent victims of elder abuse including nursing home neglect.

This information is provided by Washington Injury Attorney blog, a service of The Farber Law Group. We represent nursing home abuse victims and their families.

Source:
Police allege insurance agent stole $1 million from elderly By CELESTE GRACEY Issaquah Reporter Staff Writer

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Contact The Farber Law Group at 1-800-244-9087 or attorney@hgfarber.com to schedule a free and confidential case evaluation. We have offices in Seattle and Bellevue to assist you.