Sarasota insurance agent who defrauded seniors out of millions found guilty

A federal jury in Tampa has convicted a Sarasota insurance agent and former attorney who called himself the Annuity King of bilking senior citizens out of millions and using the money to buy a luxury home, Tampa Bay Lightning season tickets, jet skis and assorted other items for himself and his family.

Phillip Roy Wasserman. 66, was found guilty on nine counts, ranging from wire fraud to issuing false statements to lying to investors about the state of his company and previous financial problems. He was also found guilty of an attempt to evade taxes.

Given Wasserman’s age, he faces the possibility of spending the rest of his life in prison. According to the Department of Justice, the mail and wire fraud convictions and a conspiracy conviction each carry a maximum of 20 years in prison.