Insurance agent Tom Fallon, 63, was arraigned July 24 inSuperior Court in Long Beach, Calif., on multiple felony chargesincluding theft by embezzlement and money laundering.

Fallon's daughter, Christina Fallon, 28, is scheduled tosurrender herself at the Long Beach Police Department on July 24,and is facing the same felony charges.

According to investigators with the California Department of Insurance InvestigationDivision, Fallon and his daughter allegedly embezzled $273,954for their personal use from injured workers who trusted them toinvest settlement funds from workplace accidents with his company,Fortis Financial Insurance Services Inc.

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Evidence revealed Tom suggested two victims deposit theiraccident settlement funds with him in what's known as a workers'compensation set-aside arrangement, which would provide investmentmanagement for their settlement. In December 2014, the victimsreceived an interest payment check from Tom Fallon that bounced fornonsufficient funds, which raised their suspicions that something was wrong, ultimately leading to acriminal investigation into the Fallon family.

"The Fallons' alleged theft from injured workers is particularlyegregious," said Insurance Commissioner Dave Jones. "By stealingfrom injured workers who depend on the funds for future care, theFallons may have left many victims without the resources they needfor medical treatment."

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