Macomb County Insurance Agent Pleads Guilty to Embezzling from Southeast Michigan Seniors
LANSING – Michigan Attorney General Bill Schuette today announced that Paul Garceau, Jr., of Grosse Pointe Park, pleaded guilty to one count of Embezzlement by an Agent greater than $100,000, a twenty-year felony, and two counts of Embezzlement by an Agent between $50,000 and $100,000, a fifteen-year felony, and agreed to pay $613,199 in restitution.
Judge Richard Caretti of the Macomb County Circuit Court took the plea. Sentencing is scheduled for December 12 at 9:00 a.m.
“If you take advantage of Michigan seniors, there are consequences,” said Schuette. “Today’s guilty plea is the first step toward closure and financial assistance for those hurt by this crime.”
“Mr. Garceau’s actions were reprehensible,” said DIFS Director Patrick McPharlin. “The staff of the Department of Insurance and Financial Services, together with the Department of Attorney General, did an outstanding job on behalf of Michigan consumers.”
Garceau had his Michigan insurance producer license revoked on February 16, 2016 by the Department of Insurance and Financial Services; Garceau’s company, Apex, also had its license revoked on that day. The Department of Insurance and Financial Services (DIFS) referred the case to Corporate Oversight in July of 2016.