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TRENTON
- Attorney General Stuart Rabner and Criminal
Justice Director Gregory A. Paw announced
that a former Monmouth County insurance
agent was indicted today for allegedly stealing
insurance premiums.
According
to Insurance Fraud Prosecutor Greta Gooden
Brown, Charles Truzzolino, 50, of Brielle,
was indicted by a state grand jury on a
single charge of second-degree theft by
failure to make a required disposition of
property.
The
indictment alleges that between Jan. 1 and
Dec. 31, 2002, Truzzolino, a licensed insurance
agent who conducted insurance business in
Essex County, committed theft of insurance
premiums. Specifically, it is alleged that
Truzzolino received premium payments in
connection with surety bonds required to
be posted for persons serving as administrators
of estates. Truzzolino allegedly issued
the bonds to the Essex County Surrogate’s
Office, but never paid the insurance company
for the bonds or the coverage they represented.
It is alleged that Truzzolino stole more
than $75,000 in premium monies.
State Investigator Robert Stemmer and Deputy
Attorney General Dennis Kwasnik are handling
the case. Attorney General Rabner credited
the Department of Banking and Insurance
for assisting the Office of Insurance Fraud
Prosecutor in the investigation. DOBI routinely
assists OIFP in the investigation and prosecution
of licensed insurance agents.
The
indictment is merely an accusation and the
defendant is presumed innocent until proven
guilty. Second-degree crimes carry a maximum
punishment of 10 years in state prison and
a criminal fine of $150,000.
Prosecutor
Brown noted that some important cases have
started with anonymous tips. People who
are concerned about insurance cheating and
have information about a fraud can report
it anonymously by calling the toll-free
hotline 1-877-55-FRAUD
or visiting the Web at www.njinsurancefraud.org.
State regulations permit an award to be
paid to an eligible person who provides
information that leads to an arrest, prosecution
and conviction for insurance fraud.
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