Hollywood Man Charged with Comp Fraud, Money Laundering

The Florida Department of Financial Services has announced the arrest of a Hollywood resident on charges of money laundering and workers’ compensation fraud. An investigation by the department’s insurance fraud division discovered a scheme involving several shell companies that were used to illegally cash payroll checks, including a shell company owned by Yamil Cordero, according to the release. Shell companies help contractors illegally avoid paying workers’ compensation premiums and payroll taxes. The investigation found that payroll checks totaling more than $7.3 million...