Securities agent charged with embezzlement
Posted September 22, 2009 6:27 p.m. EDT
Smithfield, N.C. — A Johnston County securities salesman has been arrested on embezzlement charges that he converted to his own use three separate annuities totaling more than $168,000 from a 90-year-old victim.
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.