A Lake County, Calif., insurance agent has been arrested for allegedly embezzling money from a senior client, the California Department of Insurance reported. Glenn Neasham of Hidden Valley Lakes, Calif., was arrested on December 14
An investigation conducted by the California Department of Insurance discovered that Neasham, doing business as Glenn Neasham Insurance Agency, sold a $175,000 annuity to an 83-year-old woman on Feb. 6, 2008. The victim obtained the funds to purchase the annuity by withdrawing her savings from a certificate of deposit. The investigation determined that the victim lacked the mental capacity to enter into this contract, and that the terms and conditions of the annuity contract were not in her best financial interest.
The Lake County District Attorney’s Office is prosecuting this case.
Source: CDI
Was this article valuable?
Here are more articles you may enjoy.
The Big Data/AI ‘Revolution’ Is Driving Up Verdicts, Settlements as Plaintiffs Buy In 
Severe Convective Storms: Risk, Field Reality and the Path to Resilience 
Fayed Victims Seek Up to $230 Million From Harrods After Abuse 
OpenAI Says It’s Working With Anthropic, Google on AI Safety 
Want to stay up to date?
Get the latest insurance news
sent straight to your inbox.