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|Complex scam
Jose Manuel Caballero-Morlesin, an insurance agent and owner of Axis Underwriters, Inc., a Miami-based insurance agency, has been arrested after an investigation led by the Bureau of Insurance Fraud of the Florida Department of Financial Services unraveled what it asserted was a complex scam in which he enlisted a finance company to pay annual premiums tied to fake insurance applications.
In total, according to the government, Caballero-Morlesin submitted 38 fake applications and stole $276,000 in premium payments.
|Up to 157 years in prison
The government said that Caballero-Morlesin confessed to investigators and now faces up to 157 years in prison, if convicted.
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