Couple Accused of Fraudulent Policy Financing Scheme
Thursday, November 29, 2018 | 390 | 0 | 10 min read
A husband and wife who owned an Arizona insurance brokerage have been indicted for allegedly submitting fraudulent applications to finance commercial liability policy premiums and pocketing the money, the state Department of Insurance said in a press release.
The State Grand Jury indicted Cynthia Rose-Martin and David Glenn Martin, owners of Executive Professional Insurance Consultants in Glendale. The indictment charges that the Martins used the identities of several businesses without consent to submit applications to finance commercial liability premiums that contained fictitious policy information.
They allegedly misappropriated money that was intended to be applied toward premiums for their own personal benefit.
The Insurance Department said the Martins received more than $600,000 from July 2013 to August 2014 as a result of the scheme.
The U.S. Customs and Border Protection Agency arrested Cynthia Rose-Martin in Lukeville, Arizona, on Nov. 16 while she was returning to the U.S. from Mexico. Her husband was arrested earlier this year.
Prosecutors have filed 37 felony charges against David Martin, including conspiracy, illegally conducting an enterprise, money laundering, fraud and theft. Prosecutors have filed 36 felony charges against Cynthia Rose-Martin, including aggravated identity theft and forgery, the Insurance Department said.