Washington Financial Advisor Accused of Using Funds From Deceased Client's Accounts

Edward H. Kahler, 64, the owner of Key Resources, a Kenmore, Washington, retirement consultation company which sells annuities and life insurance, was arrested on September 30th., 2013, for suspicion of a federal mail fraud charge, according to U.S. Attorney Jenny A. Durkan.

Kahler is accused of liquidating the account of a deceased client without authorization. Kahler lost his insurance producers license in 2012.

Federal prosecutors say that Kahler allegedly used information from a company he worked for to access the account of a client who had died in 1984. From 1983 until he was fired in 2007, Kahler sold annuities for the Variable Annuity Life Insurance Company. Federal prosecutors said that Kahler used company information to create profiles for former clients and liquidated their accounts. As late as 2012, federal prosecutors say, Kahler used $125,000 from a deceased client to fund personal and business expenses.

If you or a family member have become alleged victims of an insurance or annuity fraud, contact an attorney at Soreide Law Group for a free consultation on how to recover your investment losses. To speak with an attorney, call 888-760-6552.
Soreide Law Group, PLLC, representing Insurance Fraud Victims in Federal Court, State Court, and before the Financial Industry Regulatory Authority (“FINRA”).