Insurance Fraud NEWS
Massachusetts broker charged with stealing $270K from clients
March 26, 2019, Sandwich, MA
An insurance broker from Sandwich allegedly stole more than $270,000 from clients, according to the attorney general's office.
A statement was sent out by Attorney General Maura Healey's office on Tuesday, March 26, that stated that David G. Pietro, 63, of Wintergreen Lane had been indicted by a statewide grand jury on five counts of larceny over $250.
Mr. Pietro is the president and CEO of DGP Miles Insurance Agency in Taunton.
The attorney general's office said that Mr. Pietro allegedly stole $270,423 in insurance premiums from client companies. The statement said that Mr. Pietro would collect insurance premiums from his clients, but would then not remit the premium payments to the client's insurance carriers.
These actions resulted in his clients' commercial insurance policies being cancelled, leaving the client companies uninsured.
Mr. Pietro will be arraigned in Bristol Superior Court at a later date.
Source: The Sandwich Enterprise