SEAFOODNEWS.COM — June 16, 2015 — An insurance agent in Garden City, NJ has been arrested and charged with grand larceny and falsifying business records in a scheme to defraud some of his clients.
John Sexton could face 5 to 15 years in prison.
The District Attorney claimed Sexton created inflated invoices for insurance premiums for Seafreeze Ltd., who was insured through Ocean Marine Insurance Agency, which in turn was a client of Sexton’s.
Officials said Sexton pocketed $58,000 from the inflated invoices.
He also stole more than $200,000 in claims from Seafreeze, by witholding payments on claims meant for Seafreeze.
The company providing the insurance eventually cancelled the policy due to the witholding of these payments.
A complaint was filed with the New York State Dept. of Financial Services, which led to the investigation and eventual arrest.
It is not known if Seafreeze has received restitution for its $200,000 in claims.
This story originally appeared on SeafoodNews.com, a subscription site. It has been reprinted with permission.