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Fallon allegedly embezzled over $250,000 from victims and used the funds for his personal expenses and business ventures, including Big Daddy's Cigar lounge in Naples. (Photo: Shutterstock)

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

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

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