Accused of $211K Insurance Fraud, Arkansas Suspect Surrenders
An Arkansas insurance firm owner has surrendered to authorities on warrants in Pulaski County for felony insurance fraud, theft and forgery, the Arkansas Insurance Department announced.
Joshua Eric Casada, owner of the Little Rock-based Casada Insurance Group, surrendered following an investigation by the AID’s Criminal Investigation Division.
Casada, of Pine Bluff, faces a single charge of Theft of Property exceeding $25,000 (Class B Felony), 11 counts of Forgery in the Second Degree (Class C Felony), and 10 counts of committing a Fraudulent Insurance Act (Class D Felony) for incidents occurring from August to October of 2017.
Casada is accused of submitting eleven fictitious and fraudulent premium finance agreements totaling $211,292.70 to the Imperial Premium Finance Corporation (IPFS).
The agreements requested premium financing on policies taken out in the name of another insurance company on behalf of some Jefferson County farmers without their knowledge or for entirely fictitious entities.
The money was then allegedly deposited in the Casada Insurance Group bank account.
The Arkansas Insurance Department had previously revoked the licenses for Casada and the Casada Insurance Group in December of 2017.
Source: Arkansas Insurance Department