Florida Insurance Agent Arrested in $16K Commission Fraud Scheme

March 20, 2019

A licensed insurance agent out of Orlando, Fla., was arrested this month for allegedly submitting fraudulent insurance applications to multiple carriers, according to a statement from Florida CFO Jimmy Patronis.

Sheila De Lima Torres Tecchio with Enterprise Insurance Agency, Inc. is accused of preparing and submitting fraudulent insurance applications to multiple insurance carriers in an effort to defraud her customers out of insurance coverage and steal $16,763 in commissions

Fraud detectives with the Florida Department of Financial Services discovered that Tecchio was writing and submitting fraudulent insurance applications to multiple insurance companies. Tecchio allegedly misclassified the vehicles as either personal use or limited business purpose vehicles without the owner’s knowledge.

Tecchio then submitted the fraudulent applications resulting in her receiving commissions of approximately $16,763 for 39 vehicles between March 12, 2017, and March 30, 2018. Because of these actions multiple consumers went without insurance coverage, Patronis said.

Tecchio surrendered to the Orange County Jail and was arrested on March 6. Tecchio faces counts of scheme to defraud, false and fraudulent motor vehicle insurance application and grand theft. If convicted, Tecchio could face up to 70 years in prison.

Source: Florida Department of Financial Services

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