10News.com

Sustain San Diego
Sustain San Diego
10 News Leadership Award
Rady Children's 10 Mobile
Extreme Makeover My Hometown
San Diego News
E-Mail News Alerts
Get breaking news and daily headlines.
Browse all e-mail newsletters

Ex-Insurance Agent Admits Bilking Elderly Clients

Judge Sentences Martin To Nearly 10 Years In Prison

POSTED: 3:41 pm PST November 29, 2005
UPDATED: 4:57 pm PST November 29, 2005

A former San Diego-area insurance agent who stole millions of dollars from seniors by duping them into phony investments pleaded guilty today to financial elder abuse and failing to file a 2001 tax return.

Glenn Martin III, 57, entered his plea on the day his preliminary hearing was to go forward. He was immediately sentenced by Judge John Thompson to nine years and eight months in state prison.

Martin's plea agreement also calls for him to make restitution of more than $2.2 million, said Deputy District Attorney Lisa Crawford.

Thirty-five of the 37 counts against the defendant were dismissed as a result of the plea bargain, the prosecutor said.

Martin's scams materialized as fake promissory notes came due, and victims complained to authorities that no money was paid out, prosecutors said upon Martin's arrest in July.

He used "bogus" seminars and solicitations to dupe seniors into investing their money in various schemes between 2001 and 2003, authorities said.

Seniors were told they could get 20 to 24 percent returns on their investments, according to prosecutors.

Links We Like
Sponsored Content
After weight-loss surgery, your diet will change drastically. Learn what foods to avoid, and how to change your eating habits for the better. More


A little short on space? Learn how to make the best of your limited square footage with these helpful tips to better small home style. More

In the workplace it’s the little things that get you noticed and help you stand out above the rest. Do these things and increase your chances for a promotion. More

Looking for a new car? Find your ride with the Model Showcase featuring all the new cars from top manufacturers. More

Don’t be left out. Make the switch to Digital TV.
Sponsored Links

Job Searching Tips