A Clive insurance agent and annuity salesman has pleaded guilty to defrauding elderly clients.
The U.S. Attorney says 47-year-old James Flaherty pleaded guilty to wire fraud and admitted to taking retirement savings and other funds from elderly clients. In one case he told a client he would invest the proceeds from their home sale, but used the $340,000 to buy a boat, automobiles and other items for himself.
He will be sentenced on April 12th, 2024, and faces a potential sentence of up to twenty years in prison.