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A jury has found Cantonment, Fla., insurance agent Randall Petersen guilty of racketeering and money laundering. An investigation by the Department of Financial Services’ Division of Insurance Fraud revealed that Petersen conspired with others during 2010 and 2011 using the business name College Consultants of the Gulf Coast to defraud insurance companies out of more than $891,000, according to a statement from the Chief Financial Officer Jeff Atwater. Sentencing is scheduled for May 22nd.

Petersen’s scheme enticed victims to attend employment seminars in Florida, Georgia and Mississippi using fraudulent job listings placed on Craigslist. When enough potential applicants were identified, the applicants were invited to the seminars where Petersen took their personal information and life insurance applications, which were presented as employee life insurance policies funded by payroll deductions.

http://www.insurancejournal.com/news/southeast/2015/04/14/364171.htm

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