LOS ANGELES (CBSLA.com) — A former insurance agent from Orange has been arrested on suspicion of stealing $110,000 from his aunt’s life insurance policy, officials said.

Myles Seishin Hanashiro, 47, was arrested Friday and booked on four felony counts of financial elder abuse, said Patrick Storm, a spokesman for state Insurance Commissioner Dave Jones.

Hanashiro was being held on $200,000 bail and was scheduled to be arraigned Tuesday in Los Angeles County Superior Court, according to Los Angeles County jail records.

In 2005, Hanashiro sold a $100,000 life insurance policy to his 78-year-old aunt, who lives in Gardena, Storm said.

Between April 2009 and April 2010, Hanashiro allegedly forged his aunt’s signature and made four withdrawals from her policeyworth about $110,000.

Hanashiro’s insurance license expired in September 2009.

Hanashiro’s aunt discovered the money had been taken in March 2012 while checking the status of her police, Storm said. Hanashiro allegedly changed contact information from the victim’s to his own phone and residence so his aunt would not find out.

(©2013 CBS Local Media, a division of CBS Radio Inc. All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed. Wire services contributed to this report.)


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