Businessman David Sanz was criminally indicted in the US last month to face charges of racketeering, grand theft and fraud in relation to Florida-based Gulf Atlantic Management Group Inc., which he owned.
The offences include an allegation that Sanz illegally stripped off millions of dollars from GAMG over several years and, in a final flourish as the regulatory net closed in, sold its entire book of business of GAMG and that of a related company to Stirling Cooke Insurance Services for $1 million.
Florida businessman indicted, Stirling Cooke ordered to place $500,000 into escrow
26 years ago
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Bermuda Fraud Insurance Listed Securities USAKeywords
Bermuda Insurance Market David Sanz David Thirkill Florida Employers Safety Association Self-Insurers Fund George Jones