The Atlanta Journal-Constitution
Insurance agent scammed 3, state says Kalantari, 62, was arrested Thursday following a search of his home, according to the commissioner’s office. He was charged with eight counts of forgery, four counts of fraudulent insurance claims and two counts each
Officials: Suspect got $200K from victims, including 92-year-old.
In videos, the Henry County insurance agent says he can help those approaching retirement avoid unnecessary taxes and protect their assets.
But instead of finding ways to make clients’ money last longer, Fereadoon “Frank” Kalantari conjured up ways to help pad his own bank account, investigators say.
Friday, Kalantari was accused of scamming three adults — includ- ing a 92-year-old — out of nearly $200,000.
“We believe there are more victims,” Georgia Insurance Commissioner Jim Beck said during a news conference. “There’s nothing worse than preying on the vulnerability of the young or the elderly.”
from Kalantari. Investigators believe Kalantari sold annuities to three family members and then closed accounts and opened new ones so he could fraudulently earn commissions.
“He purchased annuities, which are an investment giving a series of annual returns or sums. Mr. Kalantari received a monetary commission for every annuity that was purchased through his company,” Sullivan said. “Our investigation revealed that he misrepresented information to insurance companies and investors. As a result, he was able to sell more annuities, and therefore increase his income.”
Because the investigation is ongoing, investigators declined to elaborate on how Kalantari allegedly committed the fraud.
Kalantari, who has been a licensed agent in Georgia since 1991, lives just over the Clayton County line in Henry and runs his insurance business from his home. But because his alleged victims are in Clayton, investigators from multiple agencies were involved in the search of his home, Lawson said.
After investigators seized thousands of documents from the home, police also charged with Kalantari and his wife, Afroz Montamed-Ardameh, with possession of heroin and cocaine, along with 200 pills believed to be narcotics, arrests warrants stated.