An advisor is headed to prison after scamming an insurance company for hundreds of thosands.
An advisor pleaded guilty after using the personal information of 55 teachers in an annuity scam.
Magaly Morales, 52, was sentenced to three years and four months in prison after pleading guilty to one count of felony insurance fraud with a white collar enhancement and one count of felony identity theft.
Investigators found that using the personal information of school district employees Morales had submitted over 280 duplicitous annuity applications to the Vermont-based Life Insurance Company of the Southwest.
She received $235,000 in commissions before authorities uncovered the scheme.
Prosecutors said Morales did not take money from the employees, but she did use their personal information to steal from the company.
She initially was charged with 31 counts of felony insurance fraud and identity theft before agreeing to plead guilty to the current charges.
The District Attorney took steps to secure the personal information of all the victims to prevent further use of their identities.
