GREENEVILLE, TENN. (CN) – A MetLife agent stole $6 million from customers’ accounts and put it into land deals without their knowledge or consent, the SEC claims in Federal Court.
The SEC claims Mark Salyer, formerly a MetLife agent in Kingsport, Tenn., spent at least $3.2 million of the money on a land deal he had made, but which he could not afford. He forged his customers’ signatures or persuaded them that the money would be put into a MetLife investment, the SEC says.
Salyer spent at least $3.2 million on his own companies, Salmar Investors Group and Horizon Holdings, the SEC says. He did it because he had bought 3,372 acres in Alabama for $26 million, and couldn’t make the payments, the complaint states.