The owner of a Rhode Island equine insurance agency has pleaded guilty to defrauding customers, insurance companies, and finance companies of more than $1 million.
In a statement the U.S. Attorney’s Office in the District of Rhode Island said, according to court documents, Randall N. Levesque, owner of Equine Insurance Services LLC and Randall Levesque Agency, allegedly over-billed and double-billed customers’ credit cards for premiums due on policies, some of which they did not request or agree to finance, and sometimes forging clients’ signatures on payments.
Levesque also allegedly collected premiums on insurance policies issued by at least two insurance companies but did not forward clients’ payments to those companies, court records show. In addition, he allegedly financed premiums and received funds on customers’ behalf without their consent or knowledge and submitted agreements to finance companies for fictitious customers, court records say.
Finally, court documents suggest Levesque allegedly collected but did not remit to insurance companies more than $800,000 in premiums, fraudulently obtained more than $500,000 in financed premiums from at least two finance companies, and charged customers’ credit cards at total of approximately $80,000 for premiums that he failed to provide to insurance companies.
During a Dec. 12 appearance in U.S. District Court, in Providence, Levesque pleaded guilty to wire fraud. He could face penalties of up to 20 years in federal prison, a fine of $250,000 or not more than twice the gross gain or twice the gross loss from the offense, and three years supervision, the statement said.
Levesque was unavailable for comment.
Sentencing is slated to take place in March.