Chief Financial Officer Alex Sink has announced the arrest of a former insurance agent for allegedly pocketing $90,000 in premiums that left homeowners in Pasco, Hernando, and Hillsborough counties without coverage from 2003 until 2005 when the state was struck by eight major hurricanes. The arrest comes after an investigation by the Division of Agent and Agency Services.
Bruce Anthony Fonte, former owner of the now defunct Port Richey-based Family Insurance allegedly sold phony homeowners' policies to 44 citizens while accepting more than $90,000 in premiums. The state's Division of Legal Services immediately was suspended and subsequently revoked his licensed, permanently banning him from conducting business in the state. Fonte allegedly used the premiums to support a gambling habit. One of the victims, a single mother, was left without coverage despite suffering $9,000 in damage after a hurricane made landfall in Pasco County. Other individuals were forced to purchase coverage through the Citizens Property Insurance Company, forcing them to pay more in premiums. Fonte could face up to 30 years in prison.
"This individual abused his customer's trust and put them at great risk for his own personal gain," said Sink. "I commend those who worked quickly to stop additional customers from being harmed."
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