Fraud of the Week
Agent Fraud – Florida
Amount – $8 million+
A former agency owner has been sentenced to 14 years in federal prison for wire fraud and money laundering charges related to selling fraudulent insurance policies. The man would collect the premium funds and keep them for his own personal use. He would then create false documents showing that coverage existed when in reality no coverage had been purchased. He has been ordered to pay over $8 million dollars in restitution.

