Florida Insurance Agent Arrested Over $99K Senior Annuity Scam
October 22, 2019 by Florida Department of Financial Services
A Florida insurance agent has been arrested for allegedly defrauding a Florida senior of approximately $99,000 in an annuity investment scam, according to a statement from the Florida Department of Financial Services (DFS).
Florida Chief Financial Officer (CFO) Jimmy Patronis announced the arrest of insurance agent Alberto Soulier after investigators allege that for several years Soulier created fake investment companies and pocketed the annuity premiums of a South Florida senior citizen.
An investigation by the Bureau of Insurance Fraud and Division of Insurance Agent & Agency Services uncovered that licensed insurance agent Soulier allegedly sold fictitious annuity policies to a senior victim with the promise of a better rate of return on the investment. Over roughly four years, DFS said Soulier allegedly presented bogus annuity documents to the victim bearing the names of fictitious companies “MBA Capital Group” and “Trust Preferred Capital Network” and then pocketed the victim’s premiums totaling approximately $99,000.