A Culver City insurance agent has been arrested and charged with arrested and charged with 13 felony counts of theft from an elder and grand theft. Steven Branstetter was accused of embezzlement of more than$2 million over the course of nearly a decade from nearly 20 victims.
The State Department of Insurance Investigation Division began looking into Branstetter’s business after clients complained that they could not access their annuities. The state’s investigation showed that Branstetter issued a number of fake annuities, life insurance policies and disability policies, then misappropriated the premiums for his personal use.
Most of Branstetter’s victims were senior citizens. He convinced some of his victims to surrender genuine policies in order to buy the fraudulent policies he was selling. In addition to selling worthless policies and annuities, Branstetter, who was licensed to sell life insurance, allowed his license to lapse in 2013 and made no attempt to renew it.
Branstetter is currently being held in lieu of a $715,000 bond. In order to satisfy the bond conditions, Branstetter must be able to prove that no bond money came from fraudulent activity.
Culver City embezzlement lawyer
Workplace crimes can have lifelong consequences. That’s why you need to have an experienced embezzlement lawyer by your side when you’ve been accused of workplace crimes like embezzlement, fraud or grand theft.
Certain professionals have an elevated level of legal responsibility to their clients. This is especially true of professions like financial planning, insurance and investments. These are all licensed professions, and a conviction of professional misconduct charges can result in the permanent loss of your professional credentials.
Robert Helfend is an experienced embezzlement lawyer who practices criminal defense exclusively. He has worked in courtrooms throughout Southern California for more than 30 years, and provides superior criminal defense services and counsel.
When your professional life is on the line, don’t settle for inexperience. Contact Robert Helfend or call toll-free at (800) 834-6434, (310) 456-3317, (818) 591-2809 or (805) 273-5611 for an immediate consultation on your Los Angeles County embezzlement case.
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