CASE UPDATE: Orange County agent arrested in $1.6 million fraud scheme targeting elderly Mark Malatesta, 55, of San Clemente pleaded guilty today to 23 felony counts. In conjunction with his guilty plea, Malatesta was sentenced to five years of formal probation. Additionally Malatesta paid a total of $281,959 in restitution, $110,075 to his elderly victims and $171,884 to the insurance company. Malatesta is no longer allowed to work in the finance or insurance industry. The Department of Insurance revoked Malatesta's insurance license effective April 26, 2018.