HOUSTON – The Harris County District Attorney’s Office sentenced Celia Castillo to 20 years in prison after a Texas Department of Insurance (TDI) investigation uncovered she scammed almost a dozen elderly clients out of more than $3 million.
The TDI began building its case after it received complaints about the legitimacy of the investment products Castillo was selling.
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The clients thought they were buying annuities, a type of insurance product where the buyer receives regular annual payments for life, but case records revealed Castillo created a bank account where she diverted the client’s investments.
The records also revealed the annuities were never actually purchased and the money went directly into the account Castillo created for herself.
TDI investigator Geneva Titus said the crime was especially insidious because Castillo preyed on older clients who had no nearby relatives.
Her victims were all over the age of 70, and two were more than 90 years old.
“She would really become part of their lives, carefully building relationships with each of these folks,” Titus said.
“She would visit with them, give them rides, and have dinner with them, all with the goal of gaining their trust and eventually stealing their life savings.”
Once indicted and faced with the possibility of a trial, Castillo agreed to accept a 20-year prison term and will begin serving the sentence in May.
You can help fight insurance fraud. Report suspected cases to TDI by calling 1-800-252-3439 or visit www.tdi.texas.gov/fraud/report.html