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CFO Sink Applauds Division of Insurance Fraud Work on "Mortgage Fraud Surge"

11/4/2009

CONTACT: Kyra Jennings or Jennifer Hirst, (850) 413-2842
 
TALLAHASSEE – Florida CFO Alex Sink today commended the contributions of her Division of Insurance Fraud in the “Mortgage Fraud Surge”, a nine-month joint effort with the U.S. Attorney Brian Albritton, the FBI and numerous other federal, state and local law enforcement agencies to secure as many mortgage-fraud related indictments and arrests as possible.
 
Representatives from CFO Sink’s Division of Insurance Fraud will join other members of the Mortgage Fraud Surge effort today and tomorrow to announce results from this partnership to crack down on mortgage fraud, coordinated by the United States Attorney’s Office for the Middle District of Florida.
 
“I am proud of the critical role our Division of Insurance Fraud has played in the Mortgage Fraud Surge effort, bringing the expertise and tools necessary to help investigate these crimes, and commend U.S. Attorney Albritton for his leadership,” said CFO Sink.  “The rise in mortgage fraud has impacted citizens and businesses throughout the state, and this is a great example of how we can crack down on these scams by working together.”
 
The Division of Insurance Fraud joined the surge effort in February, to assist participating agencies in identifying, targeting and arresting individuals who commit mortgage fraud.
 
“Our investigators are tirelessly working on mortgage fraud cases throughout Florida,” CFO Sink continued. “We look forward to continuing a successful partnership with federal authorities here in our state to bring mortgage fraud criminals to justice.”
 
CFO Sink’s Division of Insurance Fraud made over 800 insurance fraud-related arrests in the last fiscal year, with mortgage fraud accounting for 15 percent of all insurance fraud referrals to the Division.  Depending on the estimated loss amount, the Division of Insurance Fraud will pay up to $25,000 for information directly leading to an arrest and conviction.  Anyone with information about suspected mortgage fraud is asked to call CFO Sink’s Fraud Fighters Hotline at 1-800-378-0445 or visit www.MyFloridaCFO.com/fraud.
 
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As a statewide elected officer of the Florida Cabinet, CFO Alex Sink oversees the Department of Financial Services.  A successful businesswoman with nearly three decades of experience in the private sector, Sink is serving her first term as Florida's CFO.  As CFO, Sink's priorities include using her business experience to cut wasteful government spending, cracking down on financial and insurance fraud and reforming the state government's contracting practices.