- Elizabeth Larson
- Posted On
Jury convicts insurance agent of theft from an elder
Glenn Neasham, 51, of Hidden Valley Lake was charged and tried for a a 2008 case in which he was alleged to have sold an annuity to an elderly woman who the prosecution alleged wasn't mentally competent.
Neasham's attorney, Mitchell Hauptman, did not return a call seeking comment.
Neasham was arrested last December following a California Department of Insurance investigation that was handed over to the Lake County District Attorney's Office and prosecuted by Deputy District Attorney Rachel Abelson, as Lake County News has reported.
While the jury on Friday found Neasham guilty of the principal charge of theft from an elder, jurors did not convict him of two special allegations – one that more than $65,000 had been taken from the elderly victim, and the second that more than $100,000 had been taken, Abelson said.
The trial, presided over by Judge Richard Martin, began on Sept. 21, lasted 10 days and saw 10 witnesses take the stand, Abelson said.
Deliberations started Thursday afternoon, and the verdict was handed in shortly after 1 p.m. Friday, she said.
Abelson said Neasham is due to return to court for sentencing on Dec. 20.
Based on state sentencing guidelines, Neasham could receive probation with up to a year in jail, or as much as four years in prison, which he would serve locally due to the state's prison realignment plan, Abelson explained.
She added that, in her experience prosecuting such elder theft cases, there usually is some jail time for those convicted.
According to the California Department of Insurance's December report on the investigation, it was the Savings Bank of Mendocino that originally alerted investigators to the annuity sale.
Neasham was charged with selling a $175,000 annuity to the then-83-year-old victim, who the prosecution alleged didn't have the mental capacity to enter into the contract. Neasham received a commission on the sale.
Abelson said the victim took money from a CD and put it into the annuity, which would have taken 15 years to fully mature.
“The theory was that she was deprived of a major enjoyment of her property,” Abelson said.
She added, “Dealing with elder abuse, it's easy for me to see that as theft.”
Abelson wasn't sure the jury would see it the same way, “but obviously they did.”
The case wasn't an easy one and had multiple complicated issues, Abelson said.
The female victim did not take the stand, as she wasn't mentally competent to do so, said Abelson. The woman was placed under conservatorship within the last few weeks.
Abelson said insurance expert Neil Granger gave important testimony in the case, and volunteered to testify. She said Granger is an advocate for seniors. His online resume says he specializes in the area of elder financial abuse.
She also credited the work of Department of Insurance investigators in bringing the case together.
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