Neal S. Smalbach, a former insurance agent in Palm Harbor, was convicted of grand theft related to a $2 million investment fraud scheme.
He was accused of misrepresenting details of financial products to nearly 30 senior clients who lost more than $2 million in unsuitable financial investments, according to a written statement.
State investigators determined that nearly $4.6 million was invested by seniors in products that were unsuitable for them.
Smalbach also falsified two applications for…
Neal S. Smalbach, a former insurance agent in Palm Harbor, was convicted of grand theft related to a $2 million investment fraud scheme.
He was accused of misrepresenting details of financial products to nearly 30 senior clients who lost more than $2 million in unsuitable financial investments, according to a written statement.
State investigators determined that nearly $4.6 million was invested by seniors in products that were unsuitable for them.
Smalbach also falsified two applications for…