Close X


Posted by Fay Arfa | Jun 22, 2018 | 0 Comments

SANTA ANA, Calif. – A former insurance agent was convicted and sentenced today to 15 years in state prison for defrauding approximately $2 million from his clients.

Defendant Charges Court-Offered Sentence
Brian Smart, 41, Lehi, UT Pleaded guilty today to the following felony counts:
  • (9) Theft from an elder
  • (3) Grand theft
  • Forgery
  • Money laundering
  • Using an untrue statement during the purchase/sale of a security

Sentencing Enhancements (Admitted)

  • Aggravated white collar crime over $500,000
  • Property damage over $1,000,000
  • Theft exceeding $100,000
  • Money laundering exceeding $150,000
  • 15 years in state prison
  • Ordered to pay restitution in the amount of $1,810,508
  • Ordered to pay fines in the amount of $1,810,508

Circumstances of the Case

  • Between May 2005 and March 2006, Smart worked for an insurance firm in Anaheim and convinced several elderly victims to liquidate their annuities and pay him under the pretense of having their money invested in a safe, high-yield investment. Many of the victims were referred to the defendant's firm through a nationwide retirement organization.
  • The defendant received and deposited the victims' money into his own business account and used the victims' money for personal use, including purchasing a home and daily personal expenses.
  • Smart convinced one of his victims to sell her home under the premise of using the money for an investment. Smart then took the victim's money and deposited it into his own business account.
  • The defendant forged the signature of one of his victims on a document to liquidate her annuity and collected the money from the annuity and deposited it into his business account for personal use.
  • Smart moved to Utah in 2006 after stealing approximately $2 million dollars from his victims, including several elderly victims who were left without any retirement funds after entrusting the defendant with their annuities. The defendant paid back approximately $200,000 to the victims before ending payments in January 2008.
  • In July 2008, the California Department of Insurance (CDI) investigated several complaints from victims who never received their money from the defendant. On Sept. 12, 2012, Lehi police arrested the defendant at his home in Utah. CDI investigators brought the defendant to Orange County on Sept. 27, 2012, after the defendant waived extradition.

Prosecutor: Senior Deputy District Attorney Marc Labreche, Major Fraud Unit

Orange County District Attorney / Case #: 12CF2662/ June 21, 2018

About the Author

Fay Arfa

Fay Arfa has the distinction of being Certified as a Specialist in two separate areas of law – Criminal Law as well as Appellate Law – by the California State Bar, Board of Specialization. The National Board of Trial Advocacy has also awarded her a board Certification in Criminal Trial Advocacy. ...


There are no comments for this post. Be the first and Add your Comment below.

Leave a Comment

Board Certifications

Contact Us Today

Fay Arfa is committed to answering your questions about Trials, Appeals, Habeas Corpus, State Crimes, Federal Crimes, and Sex Crimes law issues in California.

We offer a free telephone consultation and we'll gladly discuss your case with you at your convenience. Contact us today to schedule an appointment.