Insurance Fraud NEWS
Tennessee agent allegedly sells fake comp, liability policies
July 14, 2017, Hixson, TN
A former Hixson insurance agent has been indicted and arrested for fraud.
Special Agents with the Tennessee Bureau of Investigation started looking into a complaint against Steven John Ruggiero.
Agents learned that in April of 2014, the victim purchased workers’ compensation and liability insurance for his Monteagle business from Ruggiero.
The victim paid $9,147 for a policy Ruggiero claimed was underwritten by an insurance group.
The investigation revealed that the policy was determined to be fraudulent, and that Ruggiero had no authority to sell or issue policies from that insurance company.
Friday, he turned himself in to authorities at the Grundy County Jail, where he was booked on a $15,000 bond.
Source: WRCB TV