A former insurance coverage agent from East Wenatchee is dealing with as much as three years in jail for defrauding his aged purchasers.
On Thursday, 55-year-old Gregory D. Lone pleaded responsible to 5 counts of first diploma theft in Douglas County Superior Court docket.
Again in 2020, Lone was arrested for defrauding 5 of his aged purchasers by means of his firm Paramount Monetary Advisors between 2016 and 2019.
The Washington State Division of Monetary Establishments tipped off East Wenatchee Police of their investigation into Lone, who was funneling his purchasers’ cash in the direction of his personal private bills.
Douglas County prosecutors really helpful Lone serve a three-year jail sentence, two years of probation unsupervised, and can be required to pay a restitution of $480,000.
Lone’s sentencing listening to will probably be held at Douglas County Superior Court docket on Feb. 7, at 10 a.m.