Koreasa Maria Williams

What the public record shows

Koreasa Maria Williams, a licensed insurance agent in Tucson, Arizona, admitted to defrauding nine annuity clients of $1,064,522 and was sentenced on September 30, 2022 to 136 months (over 11 years) in prison, with restitution ordered in that full amount. This is a criminal conviction — not an allegation.

The scheme

According to the U.S. Attorney’s Office for the District of Arizona, Williams submitted withdrawal request forms to her clients’ life insurance and annuity companies without the clients’ knowledge or consent, then directed the withdrawn funds into her own personal bank account. Her clients had no idea money was leaving their annuities until the damage was done.

Why annuities are a specific target for this kind of fraud

Annuity holders — often retirees — may not check their account activity closely, and the agent who sold the policy frequently has an ongoing servicing relationship that gives them access to paperwork and, in some cases, authority to request transactions. That access is exactly what was abused here.

Why we rate this 1 / 10 — Avoid

A conviction and an 11-plus-year sentence for an agent who used her own clients’ trust and her administrative access to steal directly from their retirement accounts.

How to protect your annuity or insurance policy

• Review your annuity/policy statements yourself, every time they arrive — don’t rely solely on your agent’s summary.
• Contact the insurance carrier directly periodically to confirm your balance and any recent withdrawals.
• Require your own signature/authorization for any withdrawal, and question any request form you don’t remember signing.

Bottom line

Convicted and sentenced. An agent with access to your account is a convenience, not a substitute for reading your own statements — check the carrier directly, not just the person who sold you the policy.

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