Florida CFO Sink Announces Arrest Of A Duval County Man On Charges Of Insurance Fraud, Grand Theft, And Forgery

                               Jacksonville, FL  (CompNewsNetwork) - Florida Chief Financial Officer Alex Sink today announced the arrest of a Duval County man on charges he fraudulently received nearly $400,000 in life insurance from an accelerated death claim.  The arrest involves charges of alleged insurance fraud, grand theft, forgery and uttering a forged instrument.
 
Raymond J. Martinez, Jr., 49, of Jacksonville, is accused of forging a doctor's signature on a claim form submitted to New York Life Insurance Company (NYLIC).  In the form, Martinez stated he had terminal cancer and would likely live 12-months or less.  In response to his fraudulent claim Martinez received a $375,000 check from NYLIC.  Martinez, arrested last week, is currently being held in the Duval County Jail.  If convicted, he could potentially face up 30 years in prison.
 
"Insurance fraud affects everyone, from an increase in premiums for policyholders to the monetary loss of the company,” CFO Sink said. "My office will continue to ensure those who commit insurance fraud are aggressively pursued and held accountable for their devious actions.”
 
The charges stem from investigations by the Department of Financial Services’ Division of Insurance Fraud (DIF), a sworn statewide law enforcement agency responsible for the investigation of insurance fraud.  The DIF made more than 800 insurance fraud-related arrests in the last fiscal year.
 
Insurance fraud in Florida has been estimated to cost Floridians as much as $1,400 a year per person.  The DIF investigates various forms of fraud in insurance, including health, life, auto, property and workers' compensation insurance.  Depending on the estimated loss amount, the department will pay up to $25,000 for information directly leading to an arrest and conviction.  Anyone with information about this or any other suspected insurance fraud is asked to call the department's Fraud Fighters Hotline at 1-800-378-0445 or log on to www.MyFloridaCFO.com/fraud. Complaints can be tracked online.