A Florida insurance agent was recently arrested for allegedly defrauding a Florida senior of approximately $99,000 in an annuity investment scam.
According to the Florida Department of Financial Services, Alberto Soulier was arrested for allegedly creating fake investment companies and pocketing the annuity premiums of a South Florida senior citizen over the course of several years.
“Defrauding any Floridian is unacceptable but it is especially despicable when scam artists target seniors who have worked their entire lives to build a nest egg,” said Jimmy Patronis, Chief Financial Officer of the Florida DFS. “My dedicated fraud investigators are working every day to root out fraud and hold bad actors accountable.”
An investigation by CFO Patronis’ Bureau of Insurance Fraud and Division of Insurance Agent & Agency Services uncovered that licensed insurance agent Alberto Soulier allegedly sold fictitious annuity policies to a senior victim with the promise of a better rate of return on the investment. Over roughly four years, Soulier allegedly presented bogus annuity documents to the victim bearing the names of fictitious companies “MBA Capital Group” and “Trust Preferred Capital Network” and then pocketed the victim’s premiums totaling nearly six figures.
Soulier was booked into Broward County Jail on October 15, 2019, on charges of Misappropriated Insurance Funds, Organized Scheme to Defraud, and Grand Theft. If convicted, he faces up to 75 years in prison.
Immediately upon filing of formal charges, Soulier’s license will be suspended. The case is being prosecuted by the 17th Judicial Circuit of Florida.
The DFS notes individuals charged with a crime are presumed innocent until proven guilty.