Ex-Tucson insurance agent gets 11 years in prison for defrauding elderly client – ​​InsuranceNewsNet


Arizona Daily Star (Tucson)

An old Tucson insurance agent was sentenced to over 11 years in prison for defrauding a client over the age of $1 million.

Koreasa Maria Williams, 47, was sentenced September 30 to 136 months in prison and ordered to pay restitution to his victim after she pleaded guilty to two counts of wire fraud, according to a press release from the WE Lawyers office district of Arizona said. This sentence was ordered to run concurrently with a 51-month sentence for a previous annuity fraud scheme.

In October 2018Williams advised his 80-year-old client to cash in eight life insurance policies and get about $1 million under the false promise that life insurance funds would be better invested in annuities after realizing she was under investigation for a previous annuity theft scheme, according to the press release.

She got the client to write two checks totaling more than $1 million to a law firm on the pretext that the law firm worked for Williams’ annuity company and that the funds would be used to purchase an annuity for the victim. She then handed over the client’s checks and told the law firm the checks were a loan from her “rich uncle,” according to the press release.

Williams ordered the law firm to use the money to pay off several victims of the previous annuity theft scheme to try to avoid criminal charges. After being charged in the previous robbery scheme and released on bail in May 2019Williams tricked the client into giving her additional funds between June and December, according to the press release.

She then used that money for herself and her family over the next six months via thousands of dollars in cash withdrawals, supermarket and convenience store debits, car payments, cable fees, movie purchases, donations. to a religious ministry North Carolinahis local church and a local charity, the press release said.

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