Michigan Insurance Agent Sentenced for Embezzling $800K from Clients

December 15, 2017

A suburban Detroit insurance agent has been sentenced to at least six years in prison for embezzling more than $800,000 from a dozen elderly clients.

Paul Garceau Jr. of Grosse Pointe Park had pleaded guilty to embezzlement by an agent of greater than $100,000 and two counts of embezzlement by an agent of between $50,000 and $100,000. He was sentenced on Dec. 12.

WJKB-TV reports the state attorney general’s office says Garceau embezzled nearly $801,000 between 2008 and 2015 from 12 elderly clients in Wayne, Macomb, Oakland and Livingston Counties.

Prosecutors say Garceau convinced them to withdraw funds from legitimate investments, saying he would reinvest the funds in opportunities with higher returns, but instead spent the money on himself or his embezzlement scheme.

Garceau has agreed to pay about $613,000 in restitution.

Topics Agencies Michigan

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Latest Comments

  • December 18, 2017 at 10:47 am
    SensibleArgument says:
    But he won't spend much time in prison, he's got a great lawyer with all that additional income and will probably bail out. It will take months to years before those poor peop... read more
  • December 15, 2017 at 2:59 pm
    Perplexed says:
    Agreed, Jack. He needs to spend more time in prison.
  • December 15, 2017 at 2:55 pm
    Agent says:
    These scheming crooks prey upon the elderly. Put him in General Population.

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