A Massachusetts man was indicted for 10 felony counts related toinsurance fraud after being arrested for reinsuring expensivejewelry that had allegedly been stolen.

A Suffolk County grand jury returned indictments against DavidFioravanti, 43, of Boston, in connection with the alleged jewelryscam. He was also charged with defrauding his auto insurancecompany by presenting a false registration address. Fioravantifaces charges of motor vehicle insurance fraud (five counts);insurance fraud (two counts); larceny totaling more than $250;attempted larceny over $250; and making a false statement on amotor vehicle registration.

In March 2008, the state began an investigation after the matterhad been referred by the Insurance Fraud Bureau of Massachusetts(IFB). In May 2002, Fioravanti purchased an insurance policy fromChubb Insurance to insure $63,000 worth of jewelry that he owned.In February 2003, Fioravanti filed a police report claiming thathis apartment was robbed and that all of the insured jewelry wasswiped. One of the pieces of jewelry Fioravanti reported stolen washis wife's engagement ring. Based on this police report, Chubb paidthe entire $63,000 claim. None of the stolen jewelry was everreported to be recovered.

Investigators also discovered that in December 2003, Fioravantipurchased another insurance policy from Vermont Mutual InsuranceCompany and insured all of the same jewelry he claimed had beenstolen from his apartment in February 2003. Authorities allege thatFioravanti also insured the engagement ring he claimed was stolen,yet this time he said it was worth $10,000 more than the value atwhich it had originally been appraised.

When Vermont Mutual learned of the claim that Chubb had alreadypaid to Fioravanti, it cancelled his policy. Investigators thenlearned that in October 2004 Fioravanti purchased yet anotherinsurance policy from OneBeacon Insurance Company for the samejewelry he had listed with Vermont Mutual, plus additional items.OneBeacon then referred the matter to the IFB.

During the course of the investigation, investigators discoveredthat Fioravanti also had motor vehicle insurance policies withArbella Mutual Insurance Company. All of the auto insurancepolicies issued to Fioravanti listed his mother's address inMarshfield as the address where his car is registered. However,authorities learned that Fioravanti actually lives in Boston, andthat he fraudulently registered and insured his automobiles at theMarshfield address. Authorities believe that Fioravanti did this inorder to pay lower auto insurance premiums.

Fioravanti's arraignment was slated for Nov. 4, 2008, in SuffolkSuperior Court.