Horse Insurance Agent Sentenced in $1.3 Million Fraud Scheme

Horse Insurance Agent Sentenced in $1.3 Million Fraud Scheme

Middletown equine insurance agent and agency owner Randall Levesque was sentenced to 36 months in federal prison after orchestrating a scheme which defrauded customers, insurance companies, and finance companies of approximately $1.3 million.

He was also ordered to serve three years supervised release upon completion of his prison term and pay restitution to the victims of his schemes totaling $1,382,815.08.

Levesque was sentenced by U.S. District Court Judge John J. McConnell, Jr.

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Levesque pled guilty on December 12, 2018, to wire fraud.

Guilty Plea

At the time of his guilty plea, Levesque admitted to the Court that he overbilled and double-billed customers when billing their credit cards for premiums due on policies, some of which the client did not request or did not agree to finance, at times forging the customers’ signature; collected premiums on insurance policies issued by at least two insurance companies but, upon receipt from customers, did not forward the payments to the insurance companies; and, at times, financed premiums and received funds on behalf of customers without the customers’ consent or knowledge, and submitted financing agreements to finance companies for fictitious customers, for whom there were no policies.

According to Court documents, Levesque collected but did not remit to insurance companies over $800,000 in premiums; fraudulently obtained over $500,000 in financed premiums from at least two finance companies; and charged customers’ credit cards a total of approximately $80,000 for premiums that he failed to provide to insurance companies.

GoLocal reported in November of 2018:

Levesque, 57, is the owner of Equine Insurance Services, LLC and Randall Levesque Agency.

He is being charged by way of a federal criminal complaint with wire fraud and aggravated identity theft.

The Investigation

According to court documents, it is alleged that Levesque over-billed and double-billed customers when billing their credit cards for premiums due on policies, some of which the client did not request or did not agree to finance, at time forging the customers’ signature; collected premiums on insurance policies issued by at least two insurance companies but, upon receipt from customers, did not forward the payments to the insurance companies; and, at times, financed premiums and received funds on behalf of customers without the customers’ consent or knowledge, and submitted financing agreements to finance companies for fictitious customers, for whom there were no policies.

It is alleged in Court documents that Levesque collected but did not remit to insurance companies over $800,000 in premiums; fraudulently obtained over $500,000 in financed premiums from at least two finance companies; and charged customers’ credit cards at total of approximately $80,000 for premiums that he failed to provide to insurance companies.

Levesque made an initial appearance on Tuesday, October 30 in U.S. District Court before U.S. Magistrate Judge Patricia Sullivan, and was released on $10,000 unsecured bond.