A previously-convicted insurance agent was arrested after a vigilant senior tipped off Florida authorities and helped with an undercover sting. The senior had previously learned about annuity fraud at a Florida Department of Financial Services workshop. When she met with the scammer to discuss buying an annuity, she recognized misrepresentation and notified the state. Investigators then staged a follow-up meeting to discuss her purchasing another annuity. When she signed the paperwork, investigators emerged to nab the agent, who had been arrested for grand theft and insurance fraud less than a year before. He was charged with selling insurance without a license and violating probation. His partner was charged with aiding and abetting an unlicensed insurance agent.
Two Georgia insurance agents have been charged with insurance fraud after they allegedly sold insurance to Goodwill Industries of Middle Georgia, but kept the $152,062 in premiums for themselves. In addition to failing to forward the premiums to the insurer, which led to the cancellation of Goodwill's coverage, the insurance agents also charged Goodwill for a fake extension on their policy that was not approved by the insurer. After officials charged the agent duo with fraud, the insurance company filed suit to recoup the stolen premiums.
