The Florida Division of Insurance Fraud (DIF) announced on February 10, 2016 that additional charges have been filed against Orange County insurance agent Mario Ferreri, owner of Orlando-based Financial Management Resources.
According to DIF, Ferreri was arrested in 2015 for allegedly stealing more than $1 million from his clients. Recently, another victim has come forward alleging that a $95,000 check intended for an annuity payment may have also been stolen by Ferreri.
According to the press release from DIF, the Department’s Division of Agent and Agency Services received a complaint from Lincoln Life Insurance Company stating their suspicions that Ferreri had stolen two of his client’s insurance premium payments and used the money for his personal benefit. Due to the criminal nature of the allegations the case was referred to colleagues in the Division of Insurance Fraud.
The investigation revealed that Ferreri had gained the trust of two of his clients and convinced them to make their premium payment checks payable to one or more of his companies instead of their respective insurance companies. The clients individually contacted their insurance carriers and realized their payments had not been received.
On December 5, 2014, Ferreri was arrested and booked into Orange County Jail on two counts of a scheme to defraud more than $50,000 where he is still being held on a bond of $250,250. According to DIF, an additional second degree grand theft count has been added along with an added bond amount of $200,000. If convicted, Ferreri faces up to 30 years in prison.
Click here to read press release.