Ex-insurance agent pleads not guilty to stealing from aunt
A former insurance agent accused of illegally withdrawing more than $100,000 from his aunt’s annuity pleaded not guilty Tuesday to theft from an elder or dependent adult, the L.A. County district attorney’s office said.
Myles Seishin Hanashiro, 47, of Orange, reportedly forged his 78-year-old aunt’s signature on documents to withdraw a total of $110,760 from her life insurance annuity.
Hanashiro sold the annuity to his aunt in 2005 and allegedly began taking money from it in April 2009 after losing his insurance license. He continued to dip into the annuity for just over a year, according to the district attorney’s office.
The charges against Hanashiro include special allegations he took property worth more than $65,000. He faces a maximum sentence of five years in state prison if convicted on the four felony counts. He is due back in court Jan. 8.
The California Department of Insurance is investigating the case.
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Twitter: @James_Barragan
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