

Photo by Dariush M. via Shutterstock

Police this morning arrested a man in Downey who was giving a financial planning seminar on suspicion that he'd diverted money from an elderly client, resulting in a $125,000 tax bill she wasn't expecting.

Jose Carbajal, 45, was arrested around 11 a.m. at a small financial planning seminar and charged with financial abuse of the elderly.

"The ... woman learned from the IRS that the tax bill resulted from a large monetary transfer associated with her investment account, which was managed by Carbajal, who is an independent financial advisor," a sheriff's spokesman told City News Service. "As the investigation progressed, additional victims were identified, including a Baptist Mission."