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CFO Atwater Announces Arrest of Insurance Agent for Fraud

5/22/2014

Contact: Chris Cate
(850) 413-2842
 
TALLAHASSEE - Florida Chief Financial Officer Jeff Atwater today announced the arrest of Booker T. Wade, 56, an insurance agent accused of stealing insurance premium payments from an elderly client. If convicted, he faces up to five years in prison and will be permanently barred from the insurance industry.
 
“I am proud of our investigators for their efforts to fight fraud and ensure justice is served when Floridians are victimized,” said CFO Atwater. “Insurance fraud hurts all Floridians through increased rates, which is why we work so diligently to make sure no act of fraud goes unpunished.”
 
Wade, the owner of Ibis Insurance Associates in Lauderhill, Florida, surrendered to the Florida Department of Financial Services’ Division of Insurance Fraud. An investigation revealed that he stole insurance premiums from one of his elderly clients and deposited the money in his personal account.
 
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Chief Financial Officer Jeff Atwater, a statewide elected official, oversees the Department of Financial Services. CFO Atwater’s priorities include fighting financial fraud, abuse and waste in government; reducing government spending and regulatory burdens that chase away businesses; and providing transparency and accountability in spending.