A Pensacola insurance coverage agent has been charged with wire fraud for his alleged scheme of taking his clients’ insurance coverage premiums for himself.
John Michael Thomas, 51, appeared in a federal courtroom listening to presided by Performing US Legal professional for the Northern District of Florida Jason R. Coody. A federal legal grievance filed March 12, 2021, charged Thomas with promoting fraudulent insurance coverage insurance policies for about $4 million in insurance coverage premium funds by means of his company, Thomas Insurance coverage, LLC.
In keeping with the grievance, Thomas allegedly defrauded clients from September 2013 to December 2020 by means of a kind of insurance coverage fraud known as “premium diversion.” Thomas collected insurance coverage premiums from clients, however stored the funds for his private use as a substitute of manufacturing insurance coverage insurance policies, the lawsuit stated. To hide his ruse, Thomas allegedly gave his clients fraudulent paperwork referencing insurance coverage insurance policies that didn’t exist.
Thomas was ultimately arrested on April 01, 2021. The arrest was the results of a joint investigation between the FBI and the Florida Division of Investigative and Forensic Companies, Bureau of Insurance coverage Fraud.
A launch from the US Legal professional’s Workplace for the Northern District of Florida famous that investigation work is ongoing to make sure that all of Thomas’s alleged victims are recognized. The workplace has suggested anybody who believes they’ve been victimized by Thomas to contact the native FBI workplace.