Former Tucson Insurance Agent Sentenced to Prison for Million Dollar Elder Fraud Scheme
For Immediate Release
U.S. Attorney's Office, District of Arizona
TUCSON, Ariz. – On Friday, Koreasa M. Williams, 46, of Tucson, Arizona, was sentenced by U.S. District Judge Jennifer G. Zipps to 51 months in prison. Williams previously pleaded guilty to wire fraud.
In her guilty plea, Williams, a licensed insurance agent, admitted that she devised a scheme to defraud nine annuity clients out of $1,064,522. In furtherance of her scheme, Williams sent request forms to various life insurance companies seeking to withdraw funds from her clients’ annuities without their knowledge and consent. Williams also directed the life insurance companies to wire the fraudulently obtained funds directly to her personal bank account. Williams then used the mostly elderly victims’ money for her personal benefit.
“It is essential that individuals who use their position and skill to harm others be held accountable,” said U.S. Attorney Gary Restaino. “We are grateful to our partners at the FBI for bringing this case forward and are hopeful that its resolution will bring some closure for the victims.”
The Federal Bureau of Investigation conducted the investigation in this case. The United States Attorney’s Office, District of Arizona, Tucson, handled the prosecution.
CASE NUMBER: CR-19-1276-TUC-JGZ (BGM)
RELEASE NUMBER: 2021- 095_Williams
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Updated December 20, 2021
Press Release Number: 2021-095_Williams