Insurance Agent Pays Back 93-Year-Old Victim He Stole From

MARINA DEL REY, CA — An insurance agent from Marina del Rey was ordered to pay $750,000 to an elderly client whom he defrauded out of the full purchase price of her home, the Los Angeles County District Attorney's Office announced Thursday.

Clement Lancelot Chichester, 69, paid the restitution Wednesday and was additionally placed on one year of formal probation and was sentenced to 24 days in county jail for time served.

He pleaded no contest on July 16 to one felony count each of theft from an elder adult by a non-caretaker, forgery and passing a non-sufficient funds check, the District Attorney's Office said. In a negotiated plea agreement, those charges were reduced to misdemeanors at sentencing.

Chichester was the longtime insurance agent and financial adviser of the victim, a 93-year-old woman.

The defendant was accused of investing his client's money in securities without making legally required material disclosures, the press release said. He then wrote bad checks for the purchase of her Culver City home and filed a forged document indicating that the payments had been completed in full.

The case was investigated by the California Department of Insurance.

Related: Insurance Agents Allegedly Steal $1.1M From Elderly Woman