The Commerce Fraud Bureau has formally charged a Minnesota broker with alleged involvement in a $650k fraud scheme.
The organisation believes that it has found evidence that Kevin Anthony Meyers invented customers and faked Social Security numbers with working for Cigna Corp from 2018 to 2020.
According to a Commerce Department news release, 401 life insurance policies Meyers claimed to have sold between May 2018 to June 2019 never generated a premium payment to Cigna, while some of the Social Security numbers did not exist or belonged to deceased people.
Meyers also earned commissions after reporting sales to employees of a company called Synergy Benefits Solutions, which Investigators concluded that Meyers was the sole owner of.
Some of the supposed customers told investigators they knew Meyers but had not purchased any insurance from him, it has been alleged.
Meyers must repay $648k to Cigna within five years. The Department of Commerce, which licenses insurance brokers in Minnesota, revoked his insurance license retroactively and imposed a civil penalty of $100k, which will be waived when he repays Cigna in full.
Ramsey County Attorney John Choi, said: “We are grateful for the hard work of the Minnesota Department of Commerce fraud investigators to bring this case forward to our office.”
Meyers’ first appearance in Ramsey County District Court is set for October 10.
The charges against Meyers include six felony counts of fraud, theft by swindle and identity theft, with the most serious counts carrying a sentence of up to 20 years in prison.
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