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March 10, 2012 at 7:56 AM

6-year sentence for ex-insurance agent who stole $1M from clients

A former Issaquah insurance agent who stole more than $1 million from five elderly clients was sentenced Friday to six years and three months in prison, according to the state Office of the Insurance Commissioner.

Jasmine Jamrus-Kassim was arrested last March in Kent by State Patrol troopers and investigators from the Office of the Insurance Commissioner. According to charging documents, Jamrus-Kassim was attempting to liquidate her assets, including selling her house in a “short sale,” at the time of her arrest.

Jamrus-Kassim allegedly convinced her clients to cash out large portions of their annuities with Bankers Life and Casualty, charging papers say. She allegedly deposited checks endorsed by her clients into bank accounts belonging to her daughters, ages 19 and 18, then transferred funds to her own personal account, the papers say.

The clients thought the money was being reinvested, but investigators say Jamrus-Kassim pocketed more than $1 million between October 2007 and November 2009.

Investigators say she spent the money on jewelry, clothes, a trip to Mexico and online psychics. In January 2009 alone, she allegedly paid more than $20,000 to the Online Psychic Network, the papers say.

According to the network’s website, psychics typically charge 50 cents to $3 per minute. Services include tarot card readings and chats with clairvoyants, who “can help you contact deceased loved ones,” the site says.

One of the five alleged victims, an 81-year-old Bellevue man, died in January 2011.

In December 2009, the son of that man — who allegedly lost $130,000 — contacted the Office of the Insurance Commissioner (OIC) to file a complaint against Jamrus-Kassim, charging papers say. Three days later, a Renton woman, Dorothy King, 92, also filed a complaint against Jamrus-Kassim, who then returned $25,503 to King, according to a news release issued by the OIC.

The two complaints triggered the state investigation.
 
Jamrus-Kassim pleaded guilty in King County Superior Court in October to 21 counts of first-degree theft and one count of attempted first-degree theft.

Comments | More in The Blotter | Topics: King County Prosecuting Attorney's Office, Office of the Insurance Commissioner., theft

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