Business Owner Accused of $236,515 Premium Fraud Scheme

The Nassau County District Attorney’s Office charged a contractor with fraud for allegedly underreporting payroll to reduce his workers’ compensation premiums by $236,515. Vasillios Handakas, 60, allegedly reported employing two masons with an annual payroll of $50,000 when securing work comp coverage from March 2019 to March 2020. The DA’s office said Handakas actually had 13 employees and $625,466 in payroll during that period. The alleged underreporting resulted in an underpayment of insurance premiums by $197,623. In March 2020, Handakas allegedly purchased another pol...