Sentenced Handed Down In Scam That Targeted Macomb Seniors

Paul Garceau, Jr., 51, of Grosse Point Park, was sentenced to a minimum of six years in prison late last week. The former life insurance agent pleaded guilty last month to three felonies stemming from a scheme to embezzle over $800 thousand from a dozen of his clients. In addition to the prison sentence, Garceau will have to make $613,199 in restitution payments.

The state attorney general’s office said Garceau embezzled over $800 thousand from 12 elderly clients. The Ponzi scheme lasted from 2008 through 2015, impacting victims in Wayne, Macomb, Oakland and Livingston Counties.

At sentencing, Macomb County Circuit Court Judge Richard Caretti called Garceau’s actions “unspeakable.”

Read full coverage of this story in the Insurance & Financial Advisor News.

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