Former Insurance Agent Faces Felony Charges for Allegedly Defrauding Elderly Client
An Orange County former insurance agent has been arrested on several charges for the alleged theft of over $90,000 from an elderly client who did not have the capacity to manage their own finances.
In a press release, the California Department of Insurance announced charges of financial elder abuse, grand theft of an elder, and forgery against 76-year-old Sally Nava Kanarek, who worked as a licensed life insurance agent from 2018 to 2021.
The Department alleges that Kanarek moved into the victim’s home as a roommate in 2020 and, while posing as the victim’s “health care manager,” gained control of the victim’s finances.
Kanarek allegedly collected over $90,000 from the victim, which involved checks that appeared to have been forged, the Department of Insurance said.
Kanarek is also accused of selling the victim two annuities totaling over $580,000, against the victim’s financial interests, allowing Kanarek to collect nearly $8,000 in commission. Kanarek is also accused of attempting to withdraw over $110,000 from the victim’s IRA and also attempting to sell their home.
Orange County Adult Protective Services and the Orange County Public Guardian have since intervened on behalf of the victim, and successfully petitioned in Orange County Superior Court to have a conservator appointed to manage and protect the victim’s financial interests.
Kanarek was arrested by Newport Beach Police and booked on the aforementioned charges, with bail set at $50,000. The Department of Insurance, meanwhile, has revoked Kanarek’s license and imposed an industry ban against her.
