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FL Contractor Arrested for $1M in Scam

Wednesday, November 15, 2017

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Florida’s Department of Financial Services announced earlier this month the arrest of a contractor who is accused of defrauding an insurance company of more than $1 million.

© iStock.com / Marilyn Nieves

Florida’s Department of Financial Services announced earlier this month the arrest of a contractor who is accused of defrauding an insurance company of more than $1 million.

Jimmy Patronis, Chief Financial Officer of the DFS, said that Carlos Contreras, 50, owner of DJC Builders & Construction, allegedly underreported the number of people on his payroll, the company’s annual payroll amount and the company’s scope of work.

Contreras claimed his company’s annual payroll was $273,786, and quoted an annual workers’ compensation policy premium as $25,311. If the payroll had been reported accurately, the premium would have been $1,217,161

However, an investigation found that between January and August 2017, Contreras cashed more than 600 payroll checks for his company, totaling $6.5 million in payroll that was cashed at various money service businesses across the state.

Contreras has been charged with one count of knowingly concealing payroll and one count of scheme to defraud. If convicted, he could face up to 60 years in prison. There is no record of who is representing Contreras.

   

Tagged categories: Contractors; Fraud; Good Technical Practice; Insurance; Laws and litigation; Lawsuits; North America

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