A Palm Beach insurance agent is already in prison accused of – among other things – charging his clients the full premium and not paying the policy.
Nasser Al-Suwaity, an independent insurance sales agent, faces 23 charges, including embezzlement or misappropriation of insurance funds, fraudulent use of personal identification information and an organized scheme to commit fraud.
Given the seriousness of the charges he faces, the judge chose to increase his bail and said in court: “I think it is not high enough. I raised the first charge to 50,000. These are very serious allegations.”
According to the arrest report, the suspect collected 11 insurance policies for seven different people and deposited more than $122,000, the entire insurance premium.
In addition, he asked two companies to finance these documents, which he did without the consent of his clients. He also used their names on all loan paperwork but included their addresses and phone numbers so customers would never be notified of late payments or canceled insurance policies.
Additionally, the suspect’s actions cost more than $1 million in expenses to other customers who had their apartment complex policy canceled and had to bear repair costs following Hurricane Ian in September 2022.
If found guilty of the 23 charges facing Nasser Al-Suwaiti, he could be sentenced to 30 years in prison. For more information on how not to become victims of this type of fraud, you can access this page www.fraudfreeflorida.com.
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