According to state Attorney General Eric Schneiderman, Joseph Marvullo convinced the couple to write more than 80 checks in his name amounting to almost $300,000.
The 63-year-old Marvullo is charged with grand larceny.
The onetime independent agent and broker faces up to 15 years in prison if convicted.
According to court documents, he never purchased insurance or investment products with the money.
Marvullo, of Greenfield, was arraigned earlier this week and released on his own recognizance.
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