Texas Mutual Insurance Company reported that Erection Professionals Inc. in Pleasanton has pleaded guilty to workers’ compensation fraud-related charges. A Travis County district court ordered the company to repay $200,000 to Texas Mutual.
Texas Mutual alleged that Erection Professionals – which is owned by Gregory S. Dicaro and erects metal buildings – intentionally misrepresented the number of its employees and its payroll to Texas Mutual from April 2004 to July 2006 and February 2007 to August 2007.
Because workers’ compensation insurance premium is based, in part, on payroll, this type of scheme results in an employer being charged a lower premium than it actually owes. By hiding payroll, an employer can gain an unfair advantage over competitors.
Source: Texas Mutual Insurance Company, www.texasmutual.com
Was this article valuable?
Here are more articles you may enjoy.
World’s Largest Retirement Community Set to Borrow $180 Million for More Homes 
How One Hacker Used AI Agents, a Few Thousand Dollars to Break Into Websites 
Harbor Emerges From Stealth with $10M Funding to Handle AI-Agent Risk 
How Federal Ban on Intoxicating Hemp Products Will Reshape Risk, Coverage 
