Prestige Insurance Group, Inc.

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Prestige Insurance Group, Inc.

TALLAHASSEE, FL - Chief Financial Officer Jeff Atwater announced on July 18th the arrest of Carlos Gutierrez, the former president and owner of G.M. Underwriters in Miami, on grand theft and fraud charges after an investigation revealed he stole nearly $1.1 million in insurance premiums from seven insurance and premium finance companies.

"I am proud of our investigators for uncovering this fraudulent scheme that broke the law and the trust of everyone who did business with this company," said CFO Atwater. "Insurance fraud drives up the cost of insurance for all Floridians and it will not be tolerated."

An investigation led by the Department of Financial Services' Divisions of Insurance Fraud and Agent & Agency Services found that Gutierrez directed his staff to divert insurance premiums between March and August 2012 to pay his own business debts. Gutierrez, his agency and top staff have been permanently banned from the insurance business in Florida.

If convicted on both charges, Gutierrez faces up to 60 years in prison.

Protect your employees and your business. Call Prestige Insurance Group, Inc. at (305) 969-8776 for more information on Miami workers compensation insurance.

(Article courtesy:
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