Plus, HOA theft
This past week I addressed over 100 participants in the quarterly Department of Financial Services (DFS) Property and Casualty Insurance Fraud Task Force. The Task Force began over a decade ago and meets four times a year in Lake Mary. Its mission is to bring together bright minds to stop insurance fraud and its meetings are open to the public. Think of the task force as a “convener” of all stakeholders, organizations and individuals who have a common goal of stopping those who prey on vulnerable Floridians and are part of the insurance fraud hustle that happens every day.
As part of my remarks, I asked each participate one by one what their particular skillset involved, to spur a dialog of connection and collaboration and thanked them for being at the meeting. At the conclusion of my remarks, many of those audience participants were exchanging ideas and business cards. The point of the exercise is that we must stay focused on the fraud that is pervasive, as you will see in the rest of this week’s Fraud News. Please contact me if I can give you details of the next meeting! See you there.
Phillip Roy Wasserman
A Sarasota Scheme Goes South: Phillip Roy Wasserman, a former Sarasota insurance agent and financial advisor, was convicted of fraud and tax evasion last year and has now been sentenced to 15 years in federal prison for his scheme to defraud elderly residents. Wasserman siphoned over $6 million from unsuspecting investors in his life insurance venture, called FastLife. According to the US Attorney’s Office, Wasserman was using money from new investors to pay returns to older investors, in something of Ponzi scheme, and used all the extra cash to buy beach homes, personal insurance, jewelry, and vehicles. He was later accused of interfering in the feds’ investigation, including creating a second set of books. Wasserman must also forfeit property and other assets to cover the $6.3 million in restitution he owes his victims.
Stephanie Lopez mugshot. Courtesy Pinellas County SO
HOA Funds Theft: A former homeowners association manager has been arrested for spending association funds from a Dunedin condominium complex for her personal expenses. Harbeck Hospitality, the management company for Mediterranean Manors, called police back in May of 2023 to report one its managers, 56 year-old Stephanie Lopez, was embezzling company funds. The Pinellas County Sheriff’s Office said $24,664 in stolen funds were used to pay bills, new windows, and countless Amazon purchases, and went on for an unspecified amount of time. Lopez is charged with one count of scheme to defraud and one count of grand theft, as the investigation continues.
William Diehl mugshot. Courtesy Miami-Dade Corrections
Miami Insurance Fraud: DFS investigators have arrested a man in Miami they say impersonated an insurance agent to defraud people looking to buy auto insurance. William Diehl sold non-existent policies to eight customers of Douglas Auto Sales, a Miami car dealership. The dealership called DFS after one of the customers purchased a car and found out after an accident that their coverage was fake, leaving them uninsured. Several victims had their driver’s licenses suspended as a result. The scheme, which DFS said netted $29,000, leaves Diehl facing up to 30 years in prison.
LMA Newsletter of 2-12-24
