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CFO Jeff Atwater Announces Insurance Fraud Arrest after Palm Beach County Man Falsified Records in Attempt to Collect Insurance Claim Funds

11/26/2014

Contact: Ashley Carr 
(850) 413- 2842
 
PALM BEACH, Fla. – Chief Financial Officer Jeff Atwater today announced the arrest of Greenacres resident Franklin Hampton, 40, after a Department of Financial Services’ Division of Insurance Fraud (DIF) investigation revealed that he allegedly falsified documentation submitted to his insurance company as part of a claim for water damage to his home.
 
In addition to requesting reimbursement for personal losses, Hampton claimed high-dollar losses to employer-owned property to account for total damages in excess of $40,000. During the claims process, however, Hampton was informed of a $2,500 cap for business property under his homeowners’ policy. Realizing that full reimbursement was not possible, he altered receipts and later resubmitted them in an attempt to collect additional monetary reimbursement by fraudulently claiming the employer-owned property as his own.
 
After becoming suspicious of the claim, Olympus Insurance Company referred the matter to DIF detectives, and records obtained as part of the investigation confirmed that the receipts were altered and fraudulently submitted. 
 
Hampton was arrested and booked into the Palm Beach County Jail. The case will be prosecuted by the Palm Beach County State Attorney’s Office.
 
Anyone with information about suspected insurance fraud is asked to call 1-800-378-0445. Citizens who provide tips can remain anonymous. The Department of Financial Services to date has awarded almost $349,000 to nearly 60 citizens as part of its Anti-Fraud Reward Program. The program rewards individuals up to $25,000 for information that directly leads to an arrest and conviction in an insurance fraud scheme.
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Chief Financial Officer and State Fire Marshal 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.