Clive insurance agent indicted for defrauding elderly clients
April 25, 2023 by Francesca Block
A Clive insurance agent is facing several federal charges for alleged fraud that caused his clients to lose close to $1 million of their retirement savings.
A federal grand jury indicted Zachary James Flaherty, 46, with 17 counts of mail and wire fraud, one count of conspiracy to commit mail and wire fraud, and two counts of money laundering over $10,000.
The indictment alleges Flaherty misrepresented and concealed information from 12 clients in Iowa and Nebraska while acting both as an insurance agent and an annuity salesperson through his West Des Moines-based company Midwest Senior Solutions.
Click HERE to read the full story via The Des Moines Register
Wink’s Moore on the Market: Man, oh man.
It isn’t every day that you come across a story of an agent behaving badly, using annuities as their preferred instrument, in your own hometown newspaper.
Thanks for the heads up Francesca Block at The Des Moines Register. -sjm