An insurance plan coverage agent in Ga has been arrested on expenditures of insurance plan guidelines fraud and narcotics.
Fraud investigators arrested Fereadoon “Frank” Kalantari, a qualified insurance plan agent who operates out of his dwelling in Henry County, Ga. In accordance to the Atlanta Journal-Structure, Kalantari has been accused of scamming a number of grownups – jointly with a retired few – out of just about $200,000, boasting that he could assist them steer crystal clear of shelling out out avoidable taxes in their retirement.
Investigators noted that Kalantari stable financial documents in get to go victims’ assets to buy new annuities, on which he acquired commissions for just about every unique annuity obtained.
“He ordered annuities, which are an price supplying a selection of the moment-a-12 months returns or sums,” Billy Sulliven, director of the fraud investigation machine at Georgia’s insurance plan program commissioner’s area of perform, knowledgeable AJC. “Mr. Kalantari been provided a financial cost for just about every unique annuity that was ordered by way of his business. Our investigation uncovered that he misrepresented info to insurance plan corporations and prospective buyers. As a consequence, he was all set to present a whole lot extra annuities, and as a final result strengthen his income.”
In addition to fraud, investigators also identified suspected black-tar heroin, suspected cocaine, and a large amount of money of suspected timetable four narcotics in Kalantario’s residence while executing a lookup warrant for the length of his arrest.
Kalantari now faces four counts of insurance plan program fraud, eight counts of forgery in the quite 1st diploma, two counts of id fraud, two counts of exploitation of an aged human being, and a few counts of violation of the Ga managed substances act.
“This should really supply as a reminder to folks that perception they can just get advantage of the aged – insurance plan fraud is a fairly important criminal offense and will be dealt with as this form of,” Jim Beck, insurance plan protection commissioner for the Level out of Ga, claimed in a assertion. “When insurance plan coverage fraud is committed in the direction of seniors, it not only robs them of their dignity, but also their peace of intellect. This is why combatting insurance plan guidelines fraud proceeds to be one particular of my primary priorities.”