Woman Gets 6 Years for Multiple Counts

September 30, 2002

Kim Lorene Lawrence, 41, of Stockton, Calif. was sentenced to six years in state prison. The sentencing is the result of a nolo contendere plea to one felony count of residential burglary, one felony count of theft from an elder or dependant adult, one felony count of theft of funds by broker/agent, and one felony count of false statement to sell/buy securities.

Lawrence entered her plea in 2001, and CDI revoked her insurance license effective Dec. 20, 2001.

According to investigators from the CDI’s Criminal Investigations Branch and the San Joaquin County District Attorney’s Office, Lawrence allegedly solicited victims to make investments or purchase an annuity. Lawrence never invested her clients’ funds and converted those funds to her own use.

According to prosecutors, Lawrence’s motive stemmed from financial problems that arose due to her reported bad investments. Additionally, she has been ordered to pay more than $1 million in restitution to 30 victims, most of them elderly.

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Insurance Journal West September 30, 2002
September 30, 2002
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