Agent Arrested and Convicted for Selling an Annuity.
- Thread starter Crabcake Johnny
- Start date
-
- Tags
- annuity
Yeahh!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
AB
G
Guest
Guest
Does this mean you can or will get your license back?
- 11,513
This news really needs a thread of its own.
Yahooo!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!! About time!
- 11,513
It's a big deal! And I've largely ignored this thread. But for some reason, I felt compelled to click on it. That's all.
- Thread starter
- #2,280
- 14,808
"Although there was conflicting evidence as to the elder's inability to understand the nature of the transaction, there was no evidence that defendant appropriated the elder's funds to his own use or to the benefit of anyone other than the elder herself, nor was there evidence that defendant made any misrepresentations or used any artifice in connection with the sale. Moreover, the jury was incorrectly instructed that to convict it need find only that the purchase of the annuity deprived the elder of a major portion of the value or enjoyment of her property, eliminating the necessity of proving that defendant had any such intention. Hence, defendant's conviction must be reversed."
At the heart of this, he was convicted of theft. This is the relevant passage to overturn the conviction:
Even assuming that Schuber was incapable of giving effective consent to the purchase of the annuity, defendant's acceptance of payment for the annuity cannot be considered a trespassory taking of possession of her property within the meaning of the larceny instruction. "This instruction applies to situations where a defendant physically takes property from another's actual or constructive possession."
At the heart of this, he was convicted of theft. This is the relevant passage to overturn the conviction:
Even assuming that Schuber was incapable of giving effective consent to the purchase of the annuity, defendant's acceptance of payment for the annuity cannot be considered a trespassory taking of possession of her property within the meaning of the larceny instruction. "This instruction applies to situations where a defendant physically takes property from another's actual or constructive possession."
Last edited:
