Business Owner Arrested on Quarter-Million Premium Fraud Charge

Authorities in Florida said the owner of American Iron Group Corp. was arrested Wednesday on felony charges for allegedly concealing his true payroll to reduce his workers’ compensation premiums by more than $250,000. Gustavo Antonio Munguia, owner of American Iron Group Corp., allegedly failed to report more than $3.1 million in labor costs that contractors paid to his company. The Department of Financial Services said Travelers Property and Casualty Co. of America reported that the business would have been charged an additional $253,000 in work comp premiums if Munguia reported the p...