According to the arrest report, the suspect set up 11 policies for 7 different people and deposited more than $122,000 that was the full policy premium.
A Palm Beach insurance agent is already in jail accused of – among other things – collecting the full insurance premium from his clients and not paying the policy.
Naser Al-Sweity, an independent insurance sales agent, faces 23 charges including embezzlement or misappropriation of insurance funds, fraudulent use of personal identification information and organized scheme to defraud.
Because of the seriousness of the charges he faces the judge opted to increase his bail and said in court, “I don’t think they are high enough, the first charge I am increasing it to 50,000, these are extremely serious allegations.”
According to the arrest report, the suspect set up 11 policies for 7 different people and deposited over $122,000 which was the full policy premium.
In addition, he solicited two companies to finance the policies, which he did without the consent of his clients. He also used their name on all the loan paperwork but put their address and phone number so that the clients could never be notified of past due payments or policy cancellations.
In addition, the suspect’s actions cost more than $1 million in expenses to other customers whose apartment complex policy had been cancelled and had to incur repair costs following Hurricane Ian in September 2022.
If convicted of the 23 charges Naser Al-Sweity faces, he could receive up to 30 years in prison. For more information on how to avoid becoming a victim of this type of fraud, please visit www.fraudfreeflorida.com.