Sarasota's 'Annuity King' sentenced to 15 years for defrauding seniors

Phillip Roy Wasserman, a Sarasota insurance agent and former attorney who called himself the "Annuity King," has been sentenced to 15 years in federal prison for scamming millions from elderly victims.

The 67-year-old was also ordered by U.S. District Judge Charlene Edwards Honeywell to forfeit $6.3 million at a sentencing hearing this week in Tampa.

Wasserman was convicted by a jury in May 2023 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. He was found guilty of nine counts, ranging from wire fraud to issuing false statements to lying to investors about the state of his company and previous financial problems.