The Financial Services Commission of Ontario has charged a Toronto paralegal under the Insurance Act for making false and misleading statements.

Michael Ricci, 36, faces seven charges of making a false or misleading statement or representation to an insurer in order to obtain payment for goods or services provided to an insured whether or not the insured received the goods or services. Ricci’s first court appearance on these charges is scheduled for January 23, 2003. If convicted of these charges, Ricci could face a fine of up to $100,000 per charge.

Ricci also faces 36 criminal charges in connection with payments from automobile insurance claims.

“Fraudulent activity, in any form, ends up costing all policy holders and threatens the integrity of the Insurance Act,” said FSCO CEO Bryan Davies. “We intend to act to the fullest extent of our powers to deal with incidents of illegal conduct.”