Insurance agent charged with stealing thousands from clients

D.A. says Roslyn Heights man took more than $35K in retirement savings from two women

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An insurance agent who ran an office in Long Beach was arrested on Wednesday after he allegedly stole thousands of dollars from two former clients.

Nassau County District Attorney Madeline Singas said that Roslyn Heights resident Jack Kohen, 51, stole more than $35,000 from his clients’ retirement savings for personal use.

“This defendant was entrusted with his clients’ retirement savings, but he allegedly stole more than $35,000 of their hard-earned money for his own use,” Singas said in a statement.

According to Singas, Kohen, who worked as a licensed insurance agent for New York Life Insurance and Annuity Corporation, kept an office in Long Beach.

In 2003, Singas said that one of Kohen’s clients, a Levittown woman, applied for a deferred annuity with New York Life. In December 2015 and January 2016, Kohen allegedly faxed three withdrawal requests for partial withdrawals of the annuity. He allegedly requested that the funds be deposited into an account that belonged to him and, after each withdrawal, the victim received a letter confirming the withdrawals.

On Feb. 8, Singas said the client contacted New York Life to report the activity on her account and claimed that she did not authorize any of the disbursements — Kohen allegedly stole $21,200 from the victim.

In September 2013, a Brooklyn woman applied for a deferred annuity with New York Life that was sold to her by Kohen.

In April and May of 2015, Kohen allegedly faxed three withdrawal requests for partial withdrawals. Each of the applications sought to have the funds deposited into an account belonging to Kohen, Singas said, and a total of $14,531 was allegedly deposited into his account. The client discovered the theft when she received an Internal Revenue Service form for the 2015 pension distribution and reported it to New York Life, Singas said.

Kohen was subsequently terminated by New York Life in March.

He was arraigned before District Court Judge Paul Meli on four counts of third-degree grand larceny, two counts of second-degree criminal possession of a forged instrument and one count of first-degree falsifying business records, all felonies. He was released on his own recognizance and is due back in court on Dec. 9. Kohen’s attorney, Michael Soshnick, could not immediately be reached for comment.

The case was investigated with the assistance of the New York State Department of Financial Services, who brought it to the district attorney’s office. Singas said that the investigation is ongoing, and anyone with information regarding the case is encouraged to contact the district attorney’s Government and Consumer Frauds Bureau at (516) 571-3343.