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2014 Insurance Enforcement Activity

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March

Final Orders

Louis A. Capazzi, Jr., Harrington Park, NJ and East Coast Title Services, Inc., Oradell, NJ
Order #E14-35, March 31, 2014
Respondents failed to respond to an Order to Show Cause charging them with failing to abide by the terms of their agency agreement with NJ Title, commingling premium funds and failing to hold premium funds in a fiduciary capacity, failing to abide by a repayment agreement with NJ Title, misappropriation of premium on120 title insurance policies, failing to timely issue and deliver title insurance policies to 65 insureds, and with failing to respond to a Department subpoena.
Sanctions: Revocation, Fine - $1,885,000 and Restitution - $50,547.50

Alvaro S. Kerr
and ALCO Financial Group LLC, Glen Ridge, NJ
Order #E14-32, March 14, 2014
Respondents failed to respond to an Order to Show Cause charging them with failing to pay a fine levied pursuant to a 2012 consent  order and failing to respond to Department inquiries.
Sanctions: Revocation, Fine - $10,000 and Costs - $150

Amended Order to Show Cause

Asma Norris, Chester, NJ
Order #E14-33, March 19, 2014
Respondent is charged with multiple instances of misrepresenting the nature and scope of policies and annuities sold to clients by, inter alia, stating that an annuity was like a certificate of deposit and funds could be accessed without penalty, of failing to conduct a comprehensive policy review on delivery of the policy, of misrepresenting to a client that purchase of an annuity would assist in qualifying for a government program, of forging client signatures, and of misrepresenting and/or falsifying information on application forms and annuity suitability questionnaire.

Consent Orders

America’s Recommended Mailers, Inc., Lewisville, TX
Order #E14-31, March 14, 2014
Respondent mailed deceptive insurance solicitations to New Jersey residents that referred to “New 2013 Benefit Update For New Jersey Citizens only” and a “New state regulated life insurance program” when there was no such program and no 2013 Benefit Update.
Sanction: Fine - $2,000

Juan E. Cabrera, Yorktown Heights, NY
Order #E14-30, March 16, 2014
Respondent Failed to disclose on his license application that his license had been revoked in Connecticut, conducted business in New Jersey under names that were not licensed or registered, deposited a premium payment in an account that was not a trust account and failed to remit a premium payment.
Sanction: Revocation

Karl M. Friedman and Friedman Benefits Group, Inc., Cherry Hill, NJ
Order #E14-27, March 4, 2014
Respondents submitted two applications for Medicare Advantage when not appointed by the carrier to sell that product and, when the applications were rejected by the carrier, altered the applications by whiting out his name and having another producer sign as the writing agent.
Sanction: Fine - $1,500

Horizon Healthcare Services, Inc. and Horizon Healthcare of New Jersey, Inc., Newark, NJ
Order #E14-34, March 31, 2014
Respondents experienced difficulties in access to the utilization management telephone line and delays in processing prior authorization requests.
Sanction: Fine - $750,000

Anne Miller Wolf and Miller Wolf Financial, LLC, Mt. Laurel, NJ
Order #E14-28, March 4, 2014
Respondents submitted two applications to a carrier that falsely represented that they were the writing agent when another agent had completed and singed the applications.
Sanctions: Fine - $1,500

 
February

Final Orders

Jennifer L. Battiloro, Westfield, NJ
Order #E14-23, February 20, 2014
Respondent submitted an agent/broker of record change form with a forged signature of the insured without the insured’s knowledge or consent and failed to respond to a Department inquiry.
Sanctions: Revocation, Fine - $7,500 and Costs - $250


Michael P. Ippolito,
South Hadley, MA and The Benefit Partnership, Inc., Springfield, MA
Order #E14-19, February 11, 2014
Respondents submitted four applications for voluntary life insurance which falsely represented that the applicants were employees and were eligible for voluntary benefits.  Ippolito failed to notify the Commissioner that his producer license was revoked in fourteen states.
Sanctions: Revocation, Fine Payable by both Respondents- $35,000, Fine Payable by Ippolito - $10,000 and Costs - $400

Order to Show Cause

Ralph A. Saviano, Fort Dix, NJ
Order #E14-14, February 6, 2014
Respondent is charged with conviction of wire fraud, failing to notify the Commissioner of his indictment, the filing of criminal charges against him, his conviction and the disposition of FINRA proceedings against him.

Shawn Wilson, Bridgeton and Galloway, NJ, Ernest Williams, Perth Amboy, NJ and 4 Brothers Bail Bondsman, Perth Amboy, NJ
Order #E14-24, February 20, 2014
Respondents are charged with failing to return a bail bond premium when bail was not posted and with issuing a check for the return of the bail bond premium which was returned for insufficient funds.

Orders Suspending License Pending Administrative Proceedings

Ralph A. Saviano, Fort Dix, NJ
Order #E14-15, February 6, 2014
Respondent’s license is suspended pending completion of administrative proceedings to revoke his license based on, among other things, conviction of wire fraud.

Consent Orders

Frederick P. Grippo, Old Bridge, NJ
Order #E14-21, February 11, 2014
Respondent was convicted of theft by deception due to his involvement in a scheme to defraud mortgage lenders by creating mortgage loan applications and financial statements that contained false and misleading information about the purported borrowers and failed to notify the Commissioner of his conviction.
Sanction: Revocation

James T. Leonard, Garwood, NJ
Order #E14-22, February 11, 2014
Respondent created and presented a fraudulent automobile insurance identification card to a law enforcement officer, failed to notify the Department of his arrest for simulation of a motor vehicle insurance identity card and exhibiting a falsely made and simulated motor vehicle insurance identity care to a law enforcement officer, submitted a back dated application for automobile insurance, and failed to make child support payments.
Sanction: Suspension – Three years, Fine: $5,000, Insurance Fraud Surcharge - $75 and Costs - $450.

John Mesko, Avon by the Sea, NJ
Order #E14-25, February 24, 2014
Respondent circulated misleading public adjuster solicitations that contained inaccurate information relating to victims of Superstorm Sandy and other losses.
Sanction: Fine - $2,000

Allen H. Smith, Jr., West Orange, NJ
Order #E14-20, February 11, 2014
Respondent presented an incomplete and misleading comparison between a client’s current insured health benefits plan and a self-insured health benefits plan.
Sanction: Fine - $500

Beverly Stewart, New York, NY
Order #E14-18, February 6, 2014
Respondent created a false document indicating that a fictitious applicant for an insurance policy had $10 million in assets, which document was used in support of his application for life insurance.  Respondent signed the document using a false name and improperly indicated that she was a financial planner and accountant.
Sanctions: Revocation, Fine - $5,000, Insurance Fraud Surcharge - $125, Attorneys’ Fees - $400.

John Stramiello, Fairlawn, NJ
Order #E14-16, February 6, 2014
Respondent presented an incomplete and misleading comparison between a client’s current insured health benefits plan and a self-insured health benefits plan.
Sanction: Fine - $500

Mark N. Trudel, GMI NA Inc., and Norman Insurance Agency LLC, Phoenixville, PA
Order #E14-17, February 6, 2014
Respondents failed to procure the commercial automobile insurance coverage requested by an applicant, failed to witness the signature of the applicant on the application, made misleading statements in their advertisements, respondents GMI and Trudel failed to accurately respond to a Department inquiry and respondent Norman transacted the business of insurance without a producer license.
Sanction: Fine - $10,000

 
January


Final Orders

Daniel McCorry, Brick, NJ, Marlboro, NJ and Toms River, NJ
Order #E14-10, January 28, 2014
Respondent induced at least 30 individuals to surrender annuity contracts and purchase promissory notes without the requisite due diligence or knowledge, misrepresented said notes as “secured” investments when they were not, failed to notify the Department of a judgment against him obtained by the NJ Bureau of Securities and failed to respond to a Department subpoena.
Sanctions: Revocation, Fine - $335,000 and Costs - $212.50

Orders Suspending License Pending Administrative Proceedings

Andrea L. Tuite, Freehold, NJ
Order #E13-135, December 20, 2013
Respondent’s license is suspended pending completion of administrative proceedings to revoke her license based on, among other things, conviction of fourth degree forgery.

Consent Orders

ACSIA Long Term Care, Inc., Medford, OR
Order #E14-08, January 10, 2014
Respondent disseminated a solicitation for long term care insurance that suggested that the information originated for a state government agency.
Sanction: Fine - $2,000

Angelo Agresti, Newton NJ
Order #E14-12, January 28, 2014
Respondent prepared and submitted inaccurate loss run reports to commercial automobile insurance carriers.
Sanction: Fine - $5,000, Fraud surcharge: $125

Robert S. Bland, Darien, IL and Life Quotes, Inc., Darien, IL
Order #E14-09, January 10, 2014
Respondents disseminated advertisements that failed to clearly identify the name of the insurer and offered an improper inducement to purchase insurance.
Sanction: Fine - $10,000

Harmony Anne Centrello, Saddle Brook, NJ and James R. Centrello, Saddle Brook, NJ
Order #E14-11, January 28, 2014
Respondent James Centrello solicited and completed 15 applications for an insurance company with whom he was not appointed and respondent Harmony Anne Centrello signed the applications even though she did not witness the applicant’s signature or participate in the solicitation of the applications.
Sanction: Fine - $3,750

Michael W. Keleher, Warren, NJ
Order #E14-01, January 6, 2014
Respondent fraudulently induced individuals to surrender and replace existing annuities, executed unauthorized securities transactions in clients’ accounts, opened brokerage accounts for clients without the clients’ consent, withdrew funds from an annuity without the client’s consent, and surrendered and replaced an annuity without client consent.
Sanctions: Revocation, Fine - $10,000 and Costs - $525

League Nation LLC d/b/s/ Lead Nation Media, San Marino, CA
Order #E14-05, January 8, 2014
Respondent disseminated deceptive and/or misleading advertisements for insurance.
Sanction: Fine - $500

Juan V. Papadopulos, Paterson, NJ and Exclusive Financial Services, Inc., Paterson, NJ
Order #E14-06, January 8, 2014
Respondents issued an invalid insurance binder representing coverage for an additional vehicle without having collected the required premium deposit or the required proofs of the vehicle’s purchase.
Sanction: Fine - $1,000

National Western Life Insurance Co., Austin, TX
Order #E14-03, January 6, 2014
Respondent’s agent made misrepresentations in the sale of respondent’s annuity products to New Jersey residents.
Sanctions: Fine - $250,000 and Restitution – Up to $2,723,656

 

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