Published: Nov 11, 2009 02:00 AM
Modified: Nov 18, 2009 08:25 AM
SMITHFIELD - Alex Obrizok had no reason to suspect that Mark Hall might be stealing the $117,000 he'd invested with him. They had lunch together often, and Obrizok had attended the wedding of Hall's daughter.
"I trusted the man like a brother," said Obrizok, 86, of Selma. "It's a lot of money to me."
Obrizok declined to comment further. His son, Bob, said his father isn't handy with computers and didn't look at his accounts online.
"A lot of times my father said to Mark, 'Do what you think is right with my funds,'" said Bob Obrizok, noting that Hall made a good impression when they met. "You easily liked him; he was very friendly. You'd never suspect anything."
Alex Obrizok was one of the victims named last week in 14 more embezzlement-related charges filed against Hall, the N.C. Department of Insurance announced.
The case against Hall, 50, now involves 13 victims, three of whom are elderly, and a total of $2.6 million. He faces 12 new charges of embezzlement by an insurance agent and two new counts of exploiting the trust of a disabled or elderly person.
Hall was arrested Sept. 22 and charged with one count of embezzlement by an insurance agent and one count of exploiting the trust of a disabled or elderly person. Court documents state that Hall convinced a 90-year-old Garner woman to sign over annuities worth $168,176.18 and pocketed the money without her consent.
Last week, Hall remained jailed under a $100,000 bond. He had been free on a $50,000 bond before the new charges were added. He appeared briefly in court on Wednesday, wearing an orange jumpsuit and ankle cuffs, and flashed a quick smile to eight family members and friends in attendance. A judge set his next court date for Dec. 7.
Hall's court-appointed attorney, Joy Jones, declined to comment on the new charges.
Documents show the amounts victims lost range from $40,000 to $649,000. Most of the embezzlement took place this year, the Department of Insurance said. But one charge dates to 2001 -- two years before Hall founded Market Street Advisors. At that time, Hall operated a Smithfield office of the national investment firm Hilliard Lyons. A spokesman for that company declined to comment on its relationship with Hall. Several other charges involve embezzlement in 2007 and 2008.
More charges could be added later if Department of Insurance investigators discover more victims, said department spokeswoman Kristin Milam. "I think our investigators are still working, making sure they dot every 'i' and cross every 't,' " she said. "We'd rather take our time and get it right."Cantella, the Boston-based company Market Street Advisors was affiliated with, closed the downtown Smithfield office in September. Riverside Café, another downtown Smithfield business Hall owned with his wife and other partners, closed abruptly as the investigation began, though the partners said the café's closing was unrelated.
Also in September, the N.C. Secretary of State's office suspended Hall's security-sales registration. Suspension documents state that Hall told Cantella that he took client funds for personal use and that he forged a bank statement to conceal his actions. A Cantella spokesman declined to comment last week, saying the matter is still under investigation.