An Acton financial adviser and insurance agent has been sentenced to federal prison for stealing over twenty years, $3.8 million from brokerage accounts, insurance policies, and annuities he controlled or managed for clients.
insurance fraud Massachusetts
The AG alleges that the Defendants misled consumers into buying $43.5 million worth of unnecessary health insurance products.
The indictment also alleges that between 2011 and 2017, the Defendant defraud the IRS of approximately $1 million in payroll taxes.
On August 12, 2020, the United States Attorney for Massachusetts filed tax fraud charges against Adam Haddad, a body shop owner from Worcester.
The case was referred to the AG by the Insurance Fraud Bureau of Massachusetts.