Florida authorities charged a Miami contractor with vastly underreporting his payroll and skipping out on $253,000 in workers’ compensation insurance premiums to Travelers Property and Casualty Co.
Gustavo Antonio Munguia, 48, owner of American Iron Group Corp., was arrested Thursday, charged with premium fraud and grand theft, the Florida Department of Financial Services announced. If convicted, Munguia could face years in prison.
DFS investigators found that subcontractors had paid Munguia’s firm more than $3.1 million for labor service supplied by American Iron Group. But Munguia allegedly did not report the big increase in payroll to Travelers.
Munguia was booked into the Miami-Dade County Jail, with bond set at $10,000.
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