The President and CEO of a Taunton insurance agency has been indicted in connection with an alleged embezzlement scheme that left client companies uninsured, Attorney General Maura Healey announced on Tuesday.
David Pietro, 63, of Sandwich, and his company, DGP Miles Insurance Agency of Taunton, were indicted yesterday by a Statewide Grand Jury on charges of Larceny over $250 (5 counts each). He will be arraigned in Bristol Superior Court at a later date.
The AG’s Office alleges that Pietro, a licensed insurance broker, collected insurance premiums from clients through DGP, and then failed to remit the premiums payments to their insurance carriers. As a result of the alleged embezzlement of these premiums, his client companies had various commercial insurance policies cancelled and were left uninsured.
In total, the AG’s Office alleges that Pietro stole $270,423.65 in premiums from client companies.
If any member of the public believes they may have been victimized by this conduct or has any information relating to others who may have been victimized, they are encouraged to contact the Attorney General’s Office Insurance Fraud Tip Line at 617-573-5330.
This case is being prosecuted by Assistant Attorney General Sara Yoffe of the AG’s Insurance and Unemployment Fraud Unit with assistance from Senior Financial Investigator Philip Mantyla of AG Healey’s Insurance and Unemployment Fraud Unit, and Victim Witness Advocate Megan Murphy, and by investigators at the Massachusetts Insurance Fraud Bureau.