APRIL 24, 2015
CANTONMENT, FLORIDA
A Cantonment insurance agent was found guilty Wednesday of
racketeering and money laundering in a judge trial, according to a news release
from the State Attorney's Office.
Operating under multiple business names, Randall Petersen,
49, conducted a fraudulent insurance scheme that involved his theft of several
hundred thousand dollars of commissions and bonuses from American National Insurance
Company and Liberty National Insurance Company, according to the release.
In the scheme, Petersen advertised job opportunities on the
internet for College Consultants of the Gulf Coast and induced hundreds of
applicants to provide information for life insurance that he and his associates
described as free job benefits.
In a judge trial — a trial where evidence is presented
directly to a judge instead of a jury — presided over by Circuit Court Judge
Ross Goodman, Assistant State Attorney Russ Edgar showed that College
Consultants was not a real company.
Edgar argued that Petersen had merely used
the information from the job applicants to complete life insurance applications
that he submitted to the insurance companies.
The companies paid Petersen advance commissions, which
included bonuses and as much as 130 percent of the first year premiums.
Before the companies realized the insureds were not
employees, Petersen had obtained hundreds of thousands of dollars of
commissions and bonuses and let the policies lapse for nonpayment.
Petersen faces a maximum of 60 years state prison.
Sentencing is scheduled for May 22.
The case resulted from an investigation by the Florida
Division of Insurance Fraud.