IE Staff
(October 29) – Financial
Services Commission of Ontario
reports that Hiralal Patel of
Brampton, Ont. has pled guilty to
conducting an insurance scam. He
is has paid restitution to the
victims of his insurance scam.
Patel ran an insurance firm
under the name, Affordable
Insurance Group. He sold fake
auto insurance certificates.
He pled guilty this week to
“carrying on business and
advertising as an insurance agent
without a licence”, a violation of
the Insurance Act. He was ordered
to pay a $10,000 fine, and he paid
back the victims the “thousands
of dollars” for which they were
scammed.
FSCO shut the firm down this
summer after learning of its
activities, seized its books and
records, and notified its clients.
-IE Staff
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