For Immediate Release:
November 27, 2012
Contact: Anna Alexopoulos
(850) 413-2842
CFO Jeff Atwater Announces Conviction of Tampa Senior Scammer
TALLAHASSEE - Florida Chief Financial Officer Jeff Atwater announced today the conviction of Richard
M. Incandela, 60, who was convicted of defrauding two Tampa seniors out of nearly $490,000 in life
insurance premiums.
Incande1a was sentenced to 34 months in prison followed by 25 years' probation, and was ordered to pay full
restitution to the victims. He is also banned from the Florida insurance industry.
"Scam artists who prey on seniors will not be tolerated in the state of Florida," said CFO Atwater. "Every
day seniors are approached with investment offers and it becomes impossible to know who you can trust. I
applaud the hard work of our fraud investigators and encourage all Floridians to always be on guard against
fraud."
An investigation by the Florida Department of Financial Services' Division of Insurance Fraud determined
Incandela met with the two senior citizens in Tampa and offered to obtain life insurance policies in their
names. He promised them the return of their original premium along with a profit. Incandela solicited
ongoing premium payments totaling nearly $490,000 that were never sent to an insurance company but were
deposited into an account for his own personal use. The department's Division of Agent and Agency
Services determined that that Incandela was not licensed to sell or conduct insurance transactions of any
capacity in Florida.
All consumers are encouraged to verify the company, broker or agent is licensed to do business in Florida
before you sign a contract or write a check. Please visit
www.MyFloridaCFO.com/DivisioniConsumers/PurchasingInsurance/VerifyBeforeYouBuy.htm for more
information.
Anyone with information about these or any other incidents of suspected insurance fraud is asked to call 1800-378-0445. Citizens who provide tips can remain anonymous. The Department of Financial Services to
date has awarded almost $275,000 to more than 40 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.