Volume 3 Number 35
August 28, 2006

Department of Financial Services button
Consumer Services HelpLine Number 800-342-2762
e-mail CFO Tom Gallagher
Press Releases button
Previous Issues button
CFO location button
Subscribe to Eviews button
Unsubscribe to eViews button
Text Version buttonFlorida Department of Financial Services logo



Tom Gallagher, Florida’s chief financial officer, announced today that a Palm Beach County man is facing felony charges for allegedly taking money that should have gone toward the operation of a West Palm Beach assisted living facility. The arrest stems from an investigation by the Department of Financial Services’ Office of Fiscal Integrity.

Thomas Edward Kinsey, 63, surrendered on August 18 to the Palm Beach County Sheriff’s Office on the charges of grand theft, second-degree, and filing a fraudulent claim for unclaimed property, a third-degree felony. He was booked into the Palm Beach County Jail and released after posting a $5,000 bond. If convicted on the charges, Kinsey faces up to 20 years in prison and a $15,000 fine.

“Our investigators determined this individual took money that should have gone toward the care of medically needy senior citizens,” said Gallagher, who oversees the Department of Financial Services. “That is despicable, and I commend our investigators for their diligent work in this case.”

Kinsey allegedly filed a claim in excess of $4,500 for unclaimed property belonging to the Mangonia Residence Apartments, an assisted living facility located on Australian Avenue, West Palm Beach. According to court documents, Kinsey lost control of the facility in November 1998 following a legal battle with his then-business partners. Over the course of several years after his ouster from the project, investigators said Kinsey continued to receive commission checks from laundry room vendors doing business with the Mangonia Residence Apartments and ultimately deposited more than $17,000 belonging to Mangonia Residence Apartments into personal bank accounts in his and his spouse’s name.

Kinsey is already facing trial for his previous arrest in May 2004 for the grand theft of $500,000 in grant funds he received to build an assisted living facility project he was developing on Haverhill Road in West Palm Beach. That case was also investigated by the Office of Fiscal Integrity.