Ex-insurance agent pleads no contest to fraud

Published On: Apr 12 2013 11:10:28 AM HST

A former insurance agent on Oahu has pleaded no contest to charges he defrauded two elderly clients of more than $38,000.

The state Department of Commerce and Consumer Affairs said Thursday Scott Akashi allegedly convinced an 88-year-old woman to withdraw $30,000 of her life insurance policy and place it into a separate bank account.

It says Akashi told the woman write checks to him for what he said would be a better investment.

The department says Akashi sold a $50,000 annuity to a 90-year-old man and convinced him to withdraw over $5,000 from the annuity to get a better return.

Akashi pleaded no contest to 11 counts of second degree theft.


The views expressed are not those of this site, this station or its affiliated companies. By posting your comments you agree to accept our terms of use.
blog comments powered by Disqus