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‘Well-to-Do’ Investment Firm Head Charged in $300,000 South Florida Insurance Fraud

June 23, 2022

The head of a small, South Florida investment firm has been charged with insurance fraud after he submitted a $300,000 roof-leak claim to his insurer, American International Group, along with allegedly fake photos of mold and other damage to his house.

Michael DeGeorge, 38, of Palm Beach Gardens and Jupiter, Florida, was arrested Tuesday after a months-long investigation by the Florida Department of Financial Services’ fraud bureau. The arrest was announced Wednesday by Florida Chief Financial Officer Jimmy Patronis, head of DFS.

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