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La Oficial Principal de Finanzas Alex Sink Anuncia el Arresto de Dos Funcionarios de Compañías de Seguros Afiliadas del Sur de la Florida

9/8/2010

CONTACTO: Jerri Franz o Jennifer Hirst, 850-413-2842

- Supplying Fraudulent Information Lands Two South Floridians in Jail -

TALLAHASSEE
—Florida CFO Alex Sink announced today the culmination of an extensive insurance fraud investigation with the arrest of Luis M. Espinosa, 60, and Rene M. Cambert, 55, on eight first degree felony counts each for filing false or misleading financial statements for First Commercial Insurance Company (FCIC) and its affiliated company, First Commercial Transportation and Property Insurance Company (FCTPIC) with the Florida Office of Insurance Regulation (OIR).  Espinosa was the president and CEO and Cambert was the vice president and chief operating officer of FCIC/ FCTPIC at the time the companies were ordered into receivership for liquidation in 2009.  Each felony count carries a potential 30-year sentence.
 
Three DFS divisions, the Division of Insurance Fraud, Division of Agent and Agency Services and Division of Rehabilitation and Liquidation in cooperation with the Office of Insurance Regulation worked on this case resulting in the arrests of the two FCIC officers for filing false and misleading reports of the companies’ financial condition. The arrests occurred after the Division of Insurance Fraud’s Major Case Squad was able to prove regulatory reporting documents signed by both Espinosa and Cambert were fraudulent, including quarterly statements declaring the companies were maintaining the minimum capital and surplus of $4 million required to meet Florida’s statutory obligations as an insurance provider.  The investigation revealed that numerous documents filed indicated that the companies had more reserve assets than they actually possessed. These findings confirmed that Espinosa and Cambert knowingly signed fraudulent notarized documents, and that both knew the requirements of law regarding their companies’ assets. It was discovered that the worthless cash assets, totaling more than $10 million, impaired the capital of both companies.

In July 2009, FCIC/FCTPIC were ordered into receivership for the purpose of rehabilitation and subsequently liquidated in August.  After the companies were placed in receivership, the Division of Insurance Fraud opened a criminal investigation based on the questionable financial reports sent to OIR by Espinosa and Cambert.  Further investigation of bank records confirmed some documents were falsified.

Como funcionaria electa del Gabinete de la Florida, la Oficial Principal de Finanzas Alex Sink supervisa el Departamento de Servicios Financieros y funge como Jefa de Bomberos del Estado.  Exitosa mujer de negocios, con casi tres décadas de experiencia en el sector privado, Sink está cumpliendo su primer mandato como Oficial Principal de Finanzas de la Florida.  En este puesto, las prioridades de Sink incluyen utilizar su experiencia para reducir los gastos innecesarios del gobierno, combatir el fraude financiero y de seguros, y reformar las prácticas de contratación del gobierno estatal.