The president and CEO of a Taunton, Massachusetts, insurance agency has been indicted in connection with an alleged embezzlement scheme that left client companies uninsured, Attorney General Maura Healey announced.
David Pietro, of Sandwich, Massachusetts, and his company, DGP Miles Insurance Agency of Taunton, were indicted by a statewide grand jury on charges of larceny of more than $250 that carry five counts each. He will be arraigned in Bristol Superior Court at a later date.
The Attorney General’s Office alleges that Pietro, a licensed insurance broker, collected insurance premiums from clients through DGP and failed to remit the premiums payments to their insurance carriers. As a result of the alleged embezzlement of these premiums, his client companies had various commercial insurance policies canceled and were left uninsured.
In total, the Attorney General’s Office alleges that Pietro stole $270,423.65 in premiums from client companies.
This case is being prosecuted by Assistant Attorney General Sara Yoffe of the Attorney General’s Insurance and Unemployment Fraud Unit with assistance from Senior Financial Investigator Philip Mantyla of Healey’s Insurance and Unemployment Fraud Unit, and Victim Witness Advocate Megan Murphy, as well as by investigators at the Massachusetts Insurance Fraud Bureau.
Source: The Office of Massachusetts Attorney General Maura Healey
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