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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Denny Jacob

Denny Jacob is an associate editor for NU PropertyCasualty360. Contact him at [email protected].