Man pleads guilty to defrauding elderly

EAST ST. LOUIS -- Sentencing will be in July for a southwestern Illinois insurance agent who has pleaded guilty to two fraud counts tied to what prosecutors say was his bilking elderly people of more than $1.9 million.

Forty-four-year-old Lavern Huelsmann of Trenton pleaded guilty Thursday in federal court to mail fraud and engaging in an unlawful transaction involving more than $10,000.

Federal prosecutors have said Huelsmann was only licensed to sell approved life insurance and fixed-annuity products but instead peddled sham investments to the elderly.

The indictment alleges Huelsmann used the money on his own investments, building and furnishing his home, gambling and buying gold coins, diamond jewelry and heavy equipment.

Huelsmann faces up to 30 years in prison when sentenced July 26.