Former insurance agent sentenced to prison for stealing more than $1 million from her clients
March 11, 2012 · 7:47 PM
A former insurance agent who stole more than $1 million from elderly clients has been sentenced to 75 months in prison.
Jasmine Jamrus-Kassim was arrested in March 2011 after an investigation by the state insurance commissioner’s Special Investigations Unit found that Kassim had taken $1,052,088 from five of her clients.
“This rogue agent shamelessly took advantage of vulnerable clients,” said Insurance Commissioner Mike Kreidler. “In some cases, she stripped people of their life’s savings.”
The clients, aged 74 to 90, thought that the money was being reinvested. Instead, Kassim pocketed the money. Her financial records show thousands of dollars spent on clothes, jewelry, and a trip to Mexico. They also show large payments to online psychics, including $20,000 paid to one psychic website in a single month.
Jamrus-Kassim, an independent agent, sold annuities for Bankers Life and Casualty. Bankers Life agreed to repay the victims, as well as any taxes and penalties they incurred.
“I’m glad that the company stepped up to make these victims whole,” said Kreidler. “The tragedy is that one of the victims died before learning that the money would be repaid.” The money was paid to his estate.
The investigation was launched after one of the victims, a 90-year-old woman from Renton, filed a complaint with the insurance commissioner’s office. Jamrus-Kassim was arrested in March 2011. She pleaded guilty on Oct. 31, 2011 to 21 counts of first-degree theft and one count of attempted first-degree theft. She reaffirmed her guilty plea on Feb. 17, 2012.