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FSCO charges paralegal for fraudulent activities


December 10, 2002   by Canadian Underwriter


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The Financial Services Commission of Ontario (FSCO) has charged Michael Ricci, a paralegal, for making false and misleading statements. Ricci will appear in court on January 23, 2003.
Ricci faces seven charges of making a false or misleading statement or representation to an insurer in order to obtain payment for goods or services provided to an insured. A FSCO statement notes that Ricci also faces 36 criminal charges relating to payments made under auto insurance claims. “Fraudulent activity, in any form, ends up costing all policyholders and threatens the integrity of the Insurance Act. We [FSCO] intend to act to the fullest extent of our powers to deal with incidents of illegal conduct,” says FSCO CEO Bryan Davies.