TRENTON
- Attorney General Paula T. Dow and Criminal
Justice Director Stephen J. Taylor announced
that a former Burlington County insurance
agent has been indicted for allegedly forging
the names of clients on insurance applications
and automated banking withdrawal forms.
According
to Acting Insurance Fraud Prosecutor Riza
Dagli, Michael Troise, 48, of Marlton, formerly
an insurance agent with Monumental Life
Insurance Company, was charged on Thursday,
May 20, with two counts of third-degree
forgery, one count of fourth-degree forgery
and three counts of third-degree insurance
fraud.
The
Burlington County grand jury indictment
alleges that on May 27, 2005, Troise submitted
a forged application for life insurance
purportedly for a client. The indictment
further alleges that on June 19, 2007, Troise
forged two additional applications for life
insurance purportedly for two additional
clients. It is alleged that two of the clients
had an automated banking withdrawal option
selected so that the insurance premiums
would have come directly out of the clients’
bank accounts. Troise allegedly forged the
applications in such a way that it appeared
as if the clients has authorized the applications.
The indictment alleges that the clients
did not authorize him to submit the applications.
Troise allegedly submitted renewal applications
for additional coverage for these same three
clients, knowing that they did not authorize
him to do so.
Lieutenant
Frederic Moore and Deputy Attorney General
Paul D. Santangini were assigned to the
investigation into this case. Deputy Attorney
General Santangini presented the case to
the Burlington County grand jury. Acting
Insurance Fraud Prosecutor Dagli thanked
Monumental Life Insurance Company and the
Department of Banking and Insurance for
their assistance in the investigation.
The
indictment is merely an accusation and the
defendant is presumed innocent until proven
guilty. Third-degree crimes carry a maximum
sentence of five years in state prison and
a criminal fine of $15,000, while crimes
of the fourth-degree carry a maximum sentence
of 18 months in state prison and a criminal
fine of $10,000.
The
Department of Banking and Insurance routinely
assists the Office of the Insurance Fraud
Prosecutor with the investigation and prosecution
of licensed insurance agents. This assistance
enables the state to coordinate criminal
investigations and prosecutions with any
imposition of licensing sanctions in order
to protect the public.
Acting
Insurance Fraud Prosecutor Dagli noted that
some important cases have started with anonymous
tips. People who have information about
a fraud can report it anonymously by calling
the toll-free hotline 1-877-55-FRAUD
or visiting 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.
The
Office of Insurance Fraud Prosecutor was
established by the Automobile Insurance
Cost Reduction Act of 1998. The office is
the centralized state agency that investigates
and prosecutes both civil and criminal insurance
fraud, as well as Medicaid fraud.
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