From the Maryland Attorney General’s Office:
Attorney General Douglas F. Gansler announced today that Michael Paul Citro, 30, of Abingdon, pled guilty in the Circuit Court for Harford County to one count of felony theft scheme having a value of at least $10,000 but less than $100,000. Sentencing is scheduled for March 3, before Judge Maurice W. Baldwin, Jr.
“Insurance rates are high enough as it is, but when people defraud the system, it has a potential trickle-down effect on the premiums of all Marylanders,” said Attorney General Gansler. “Fortunately, this individual will pay the price for attempting to use his position as an insurance agent to steal money.”
The investigation revealed that from August 27, 2009 through October 14, 2010, Citro submitted 67 fraudulent insurance applications to American Family Life Assurance Company of Columbus (AFLAC). As a result, AFLAC paid Citro a total of $16,947.54 in insurance commissions. Citro was a licensed insurance agent at the time of the theft.
A theft scheme having a value of at least $10,000 but less than $100,000 is a felony punishable by a maximum sentence of 15 years incarceration and a $15,000 fine.
This conviction follows a joint investigation by the Insurance Fraud Division of the Maryland Insurance Administration and the Office of the Attorney General. Attorney General Gansler thanked the Maryland State Police for their assistance in this investigation.
seems like every couple years some insurance agent scams his policy holders…must be tempting for spineless pricks in the business. Good he got caught.