Seven Arrested in Alleged $40M Payroll Fraud Scheme

Florida Chief Financial Officer Jimmy Patronis on Monday announced that seven people were arrested for allegedly orchestrating a scheme that concealed from a work comp carrier more than $40 million in payroll. “Between August of 2018 and October 2021, the individuals used shell companies and money laundering efforts to avoid paying over $7 million in insurance premiums,” Patronis’ office said in a statement. The statement was light on details about the nature of the alleged scheme or the companies involved. Mayra Alejandra Velasquez, Nuria Esperanza Avelar De Vanegas,...