Insurance agent sentenced to prison for defrauding 2 elderly cli - Hawaii News Now - KGMB and KHNL

Insurance agent sentenced to prison for defrauding 2 elderly clients

Scott Akashi Scott Akashi
Michelle Beckett Michelle Beckett
HONOLULU (HawaiiNewsNow) -

Hawaii Circuit Court Judge Richard Perkins sentenced an Oahu man Wednesday to prison time and five years of probation for stealing about $38,750 from two elderly Oahu residents who were former clients of his while he was an insurance agent.

Scott Akashi worked at John Hancock Financial Network as a life insurance agent. During his time there, he contacted two former clients and falsely offered returns on policies. From January 17 to March 21, 2012, he secured about $9,900 from a 90-year-old man in two separate transactions.

From March 27 to September 4, 2012, Akashi repeated the scheme with an 88-year-old woman, even going as far as picking her up from her home to take her to a bank, and helping her create a bank account with which to transfer funds. He took about $28,850, which was paid in nine transactions.

Akashi was charged with 11 counts of second-degree theft. Judge Perkins sentenced Akashi to serve 48 hours of prison time every week for three months, beginning July 9. He was also sentenced to five years of probation and 300 hours of community service.

"Mr. Akashi built a level of trust with his two former clients, and in callous calculation damaged their sense of trust in others, and their sense of security in their own homes," Special Deputy Attorney General Colleen Chun of the Hawaii Insurance Division Fraud Branch said. "There was a need for deterrence, and we're pleased with the sentence. We hope this will discourage other agents from taking advantage of anyone."

Fortunately in this case, the victims were able to recover the money they invested.

"We investigate and prosecute all kinds of insurance fraud, whether it is fraud committed by consumers, or even agents against consumers," Hawaii Insurance Commissioner Gordon Ito said. "This case is insidious because it targeted our kupuna, whom should be enjoying the golden years of their lives. The Insurance Division will aggressively protect all Hawaii residents against these crimes."

In July last year, Kathleen Kau, an insurance agent from Transamerica Life Insurance Co. (TLI), was sentenced to 10 years in prison for stealing more than $360,000 from the life insurance accounts of two customers.

For more information on fraud call the Insurance Division Fraud Hotline at 587-7416.


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