Franklin Insurance Agent Pleads Guilty To Fraud Against Elderly Client
Scott Rolin, 55, of Franklin, Tenn., pleaded guilty today to one count of wire fraud, announced United States Attorney David Rivera. During a plea hearing before U.S. District Court Judge Waverly Crenshaw, Rolin admitted stealing more than $50,000 from an elderly client of Steele Rolin Co., his Franklin-based insurance agency.
Specifically, Rolin admitted that, between 2011 and 2015, he made unauthorized withdrawals from certain annuity policies that he controlled on behalf of this client, and did so without this client’s knowledge or permission. Rolin forged his client’s endorsement signature on the resulting checks, and deposited funds derived from these checks into his personal checking account and into a business account he controlled. Rolin used these embezzled funds to pay various personal expenses.
Rolin faces up to 20 years in prison and a fine of up to $250,000. In addition, the Court will order Rolin to pay restitution to his former client. Rolin will be sentenced by Judge Crenshaw on January 27, 2017. Rolin’s sentence will be imposed by the Court after consideration of the U.S. Sentencing Guidelines and applicable federal statutes.
The case was investigated by the Federal Bureau of Investigation. The case is being prosecuted by Assistant U.S. Attorney William F. Abely.