The CEO and President of a
“Insurance coverage fraud and embezzlement injury the integrity of the insurance coverage system and may critically impression these concerned,” AG Healey mentioned. “We’re glad that this defendant has been ordered to pay restitution to the purchasers, a lot of them small companies, that his scheme defrauded and left uninsured. We are going to proceed to work with our regulation enforcement companions to carry accountable those that commit fraud and theft.”
Pietro, a licensed insurance coverage producer and dealer, collected insurance coverage premiums from business purchasers via DGP, however repeatedly did not remit these premium funds to his purchasers’ insurance coverage carriers, as that they had entrusted him to do. As an alternative, he misled his purchasers as he used their cash to pay for his personal enterprise and private bills. Because of the embezzlement scheme, a number of shopper corporations had numerous business insurance coverage insurance policies cancelled and have been left uninsured, in addition to uncompensated for the premium funds that they had entrusted to DGP.
In whole, Pietro and DGP stole
If any member of the general public believes they could have been victimized by this conduct or has any info regarding others who might have been victimized, they’re inspired to contact the Legal professional Normal’s Workplace Insurance coverage Fraud
This case was prosecuted by Assistant Attorneys Normal
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Unique textual content right here: https://www.mass.gov/information/ceo-of-taunton-insurance-agency-pleads-guilty-in-connection-with-fraud-and-embezzlement-scheme