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Suspect fled to Florida, brought back to California to stand justice for stealing money form senior citizen and family
BENICIA - On October 27, 2004, Herbert Amos Jones, 47, of Bethel Island, California, pled guilty in Contra Costa Superior Court to one felony count of grand theft. Jones, a former California-licensed insurance agent and regional vice president of Primerica Financial Services (PFS), was arrested as the result of an investigation by the California Department of Insurance's Investigation Division (CDI).
Jones was sentenced to time served in county jail (44 days), two years felony probation, and ordered to pay $25,000 in restitution to PFS, which had already reimbursed the victims for their losses.
"This case reflects the growing problem of financial elder abuse," stated Insurance Commissioner John Garamendi. "California insurance agents and brokers are put on notice that preying on senior citizens' hard earned - and usually very necessary funds - will not be tolerated."
Jones was arrested in Florida in September 2004 and extradited to California for prosecution by the Contra Costa County District Attorney's Office.
CDI's investigation disclosed that Jones, who surrendered his insurance license when fled the Golden State, convinced a 69-year-old woman and her 38-year-old daughter to invest $25,000 with him. Jones diverted the mother-daughter funds, failed to secure valid proof of the investments, then submitted incomplete, falsified documents to the daughter in an effort to hide his crime. The investigation also revealed that the daughter's U.S Postal Service pension plan was cleaned out, causing her additional tax penalties. PFS' restitution to the victims included reimbursement of those penalties.
CDI is concerned that there may be other, unsuspecting victims who had business dealings with Jones. Consumers should call the CDI Hotline at 800 /927-HELP(4357) if they suspect they may have fallen prey to Jones' scam.