NewsRegionWayne County


Metro Detroit insurance agent sentenced to prison after embezzling $800,000

Posted at 5:59 PM, Dec 12, 2017
and last updated 2017-12-13 14:19:28-05

A Grosse Pointe insurance agent was sentenced to up to 20 years in prison Tuesday after embezzling more than $800,000 from senior citizens. 

Paul Garceau, Jr. appeared in the Macomb Circuit Court. He admitted to a Ponzi scheme that cheated 12 of his clients out of their money. 

Garceau allegedly convinced them to take money out of legitimate investments and claimed he would re-invest in other opportunities that would bring in more money. 

"The entire experience was an endless cycle of excuses,” one victim said. 

Garceau made a statement before the ruling. 

 "I was weak, I was delusional and I was a coward,” he said. 

His victims were from Wayne, Macomb, Oakland and Livingston Counties.