Woman steals $1 mn from life insurance policies
This is a really shocking tale of greed. But it is more a story of how, despite rules and regulations, a determined thief can steal. Recently, Bobbi Jo Fritz, 48, of Pigeon admitted she took nearly $1 million from senior citizens’ life insurance accounts. She pleaded guilty to four felony counts of uttering and publishing checks for more than $20,000 and one count of embezzlement of more than $20,000. So how did she manage to siphon off so much money?
Fritz took the money from the life insurance policies of five Huron County senior citizens over the past 10 years while she was employed at Armbruster Farm Bureau Insurance Agency, authorities said. She changed the victims’ addresses on the accounts, then had checks sent to a post office box she had set up. Mlive.com reports:
Farm Bureau Insurance was unaware of the missing money until August 2005, when a family member of one of the victims noticed changes made to the victim’s life insurance account.
Read more: Woman admits taking money from life insurance policies
If you enjoyed this article, please bookmark it at del.icio.us »