A Long Beach man was sentenced this week to more than 10 years in state prison for embezzling nearly $1 million from victims who wanted to invest money they received after workplace accidents.

Tom Fallon, 65, pleaded no contest in May and was convicted of 15 felony counts of money laundering and 10 felony counts of grand theft by embezzlement, the Los Angeles County District Attorney’s Office said on Friday, July 19.

Los Angeles County Superior Court Judge Daniel Lowenthal handed down the sentence Thursday, July 18, and ordered Fallon to pay back the money he stole to the 12 victims, prosecutors said.

Fallon had a company, Fortis Financial Insurance Services, that provided investment management of workers’ compensation funds from clients. He used a series of transactions to reroute money that was supposed to be invested, Deputy District Attorney Lucrezia Pratico said.

Fallon transferred funds to his personal accounts, using some to open a cigar shop in Naples called Big Daddy Cigar Lounge, investigators said.

By doing so, he left the victims at risk by taking the resources they needed for medical treatment, Insurance Commissioner Dave Jones said when charges were filed in July 2017.

A couple, among the 12 victims, became suspicious when a check from Fallon was returned because of insufficient funds in December 2014, Jones said.

The couple filed a request for assistance with the California Department of Insurance Consumer Services Division, which led to a criminal investigation.

Fallon’s daughter, 30-year-old Christina Fallon, also faced similar charges, but they were dropped in April, according to court records.

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