Additional charges are pending against Charles Mark Hall, 50, the North Carolina Department of Insurance said Tuesday. Investigators are still seeking information from additional victims, and losses total about $2.5 million.
Hall, the owner of Market Street Advisors in downtown Smithfield, had his insurance license suspended earlier this month.
According to arrest warrants, Hall convinced the 90-year-old victim to sign surrender forms for her annuities and then took the money without her knowledge or consent.
Hall was in the Johnson County jail Tuesday afternoon under a $50,000 secured bond.