A South Florida man faces a maximum of five years in prison following his arrest last week for allegedly using stolen identities to skim thousands of dollars in advance insurance commissions.
The Florida Department of Financial Services Criminal Investigations Division (CID) took Luigino Jose Bosco into custody after a statewide probe revealed he allegedly submitted fraudulent life insurance applications.
According to state investigators, Bosco utilized the personal information of unsuspecting victims to secure $5,0,43.23 in advance commission payments from an insurance provider. Following his arrest, investigators discovered that Bosco, an undocumented immigrant, was also actively wanted by U.S. Immigration and Customs Enforcement (ICE).
The state’s investigation began after an insurance company flagged a series of suspicious applications and filed a formal complaint. CID investigators subsequently gathered evidence and secured sworn statements from the identity theft victims, which ultimately exposed the financial scheme.
State officials used the arrest to signal an ongoing, aggressive stance against financial crimes across the state.
“Let this arrest serve as a warning,” Florida Chief Financial Officer Blaise Ingoglia said in a statement. “Whether you are here legally or illegally, Florida is not the place to run your fraud scheme. If you think you can steal someone’s identity, falsify applications, and profit off of unsuspecting Floridians, think again. Crime such as this drives up costs for hardworking families and undermines the trust that Floridians deserve to have in the marketplace. I applaud the work of our Criminal Investigations Division on this case and putting Bosco behind bars.”
Bosco has been formally charged with insurance fraud, application fraud, grand theft, and an organized scheme to defraud. The Miami-Dade Attorney’s Office is handling the prosecution.
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