Insurance CEO Charged in $270k Fraud Scheme
- April 01, 2019
Sandwich Man Charged in Connection with Insurance Fraud Scheme
AG’s Office Alleges that Insurance Broker Stole More Than $270,000 from Clients
BOSTON — The President and CEO of a Taunton insurance agency has been indicted in connection with an alleged embezzlement scheme that left client companies uninsured, Attorney General Maura Healey announced today.
David Pietro, age 63, of Sandwich, and his company, DGP Miles Insurance Agency of Taunton, were indicted yesterday by a Statewide Grand Jury on charges of Larceny over $250 (5 counts each). He will be arraigned in Bristol Superior Court at a later date.
The AG’s Office alleges that Pietro, a licensed insurance broker, collected insurance premiums from clients through DGP, and then 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 cancelled and were left uninsured.
In total, the AG’s Office alleges that Pietro stole $270,423.65 in premiums from client companies.