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.

Continue Reading for Free

Register and gain access to:

  • Breaking insurance news and analysis, on-site and via our newsletters and custom alerts
  • Weekly Insurance Speak podcast featuring exclusive interviews with industry leaders
  • Educational webcasts, white papers, and ebooks from industry thought leaders
  • Critical converage of the employee benefits and financial advisory markets on our other ALM sites, BenefitsPRO and ThinkAdvisor
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

Denny Jacob

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