Insurance agent charged with stealing $20,000 from elderly couple
A Lancaster County insurance agent is charged with bilking a Manor Township couple out of $20,000. Township police say Paul J. Cero, 62, of Danville, advised and encouraged the couple to give him the money which he “invested” into a company that he was part of, based out of Las Vegas, Nevada.
Cero promised the couple that they would reap monthly profits from this investment. The couple never received monthly profits or any compensation from the so called investment. When the couple questioned Cero he kept them at bay by telling them that the money was tied up overseas and refused to return their money. Cero has been charged with Theft by Deception.
Police say Cero is licensed to sell insurance in Pennsylvania but not licensed to sell securities and/or advise on investments. Cero was recently charged with two other counts of Theft by Deception by New Holland Police for similiar incidents involving elderly citizens that occurred in the borough in 2009 and 2010. When the Manor Township couple learned of the arrest they contacted Manor Township Police to report that they too, were victims of Cero.