Former Bay Area Insurance Agent to Serve Jail Time

On Oct. 27, Herbert Amos Jones, of Bethel Island, Calif., pled guilty in Contra Costa Superior Court to one felony count of grand theft. Jones, a former California-licensed insurance agent and regional vice president of Primerica Financial Services (PFS), was arrested as the result of an investigation by the California Department of Insurance’s Investigation Division (CDI).

Jones was sentenced to time served in county jail (44 days), two years felony probation, and ordered to pay $25,000 in restitution to PFS, which had already reimbursed the victims for their losses.

Jones was arrested in Florida in September 2004 and extradited to California for prosecution by the Contra Costa County District Attorney’s Office.

CDI’s investigation disclosed that Jones, who surrendered his insurance license when he fled the Golden State, convinced a 69-year-old woman and her 38-year-old daughter to invest $25,000 with him. Jones diverted the mother-daughter funds, failed to secure valid proof of the investments, then submitted incomplete, falsified documents to the daughter in an effort to hide his crime. The investigation also revealed that the daughter’s U.S Postal Service pension plan was cleaned out, causing her additional tax penalties. PFS’ restitution to the victims included reimbursement of those penalties.

CDI is concerned that there may be other, unsuspecting victims who had business dealings with Jones. Consumers should call the CDI Hotline at (800) 927-HELP(4357) if they suspect they may have fallen prey to Jones’ scam.

Latest Comments

• November 10, 2004 at 3:11 am

  b etsy robins says:

  Why does the insurance agent get a penalty when security brokers go scott free? I was taken by David Jordan Halliburton and Horton Cowles Townes in Clearwater. They had no mon... read more
• November 9, 2004 at 10:05 am

  CM says:

  He'll get what's coming to him. He may only serve 44 days in jail but think of the long term affects. He's on 2 years felony probation after wards. He was convicted of a fe... read more
• November 9, 2004 at 9:15 am

  Jim Kerry says:

  In this case, that message would be "kill the victims" as you would probably get less than 25 years for that too. Scott is right, we need tougher prosecution and penalties. As... read more