Boston Man Pleads Guilty, Sentenced for Committing Insurance Fraud and Attempted Larceny
In March 2008,the Attorney General's Office began an investigation after the matter had been referred by the Insurance Fraud Bureau of Massachusetts (IFB). In May 2002, Fioravanti purchased an insurance policy from Chubb Insurance Co. (Chubb) to insure $63,000 worth of jewelry that he owned. In February 2003, Fioravanti filed a police report alleging that his apartment was broken into and that all of the insured jewelry was stolen. One of the pieces of jewelry Fioravanti claimed was stolen was his wife's engagement ring. Based upon Fioravanti's police report, Chubb paid the entire $63,000 claim. None of the stolen jewelry was ever reported to be recovered.
Investigators also discovered that in December 2003, Fioravanti purchased another insurance policy from Vermont Mutual Insurance Company (Vermont Mutual) and insured all of the same jewelry he claimed had been stolen from his apartment in February 2003. Fioravanti also insured the engagement ring he claimed was stolen, yet this time he claimed it was worth $10,000 more than what it had originally been appraised at. When Vermont Mutual learned of the claim Chubb had already paid out to Fioravanti, they cancelled his policy. Investigators then discovered that in October 2004, Fioravanti purchased another insurance policy from OneBeacon Insurance Company (OneBeacon), and insured the same jewelry he had listed with Vermont Mutual, plus additional items. OneBeacon then referred the matter to the IFB.
During the course of the investigation, investigators discovered that Fioravanti also had motor vehicle insurance policies with Arbella Mutual Insurance Company (Arbella). All of the auto insurance policies issued to Fioravanti listed his mother's address in Marshfield as the address where his car is registered. However, authorities learned that Fioravanti actually lives in Boston and that he fraudulently registered and insured his automobiles at the Marshfield address. Fioravanti did this in order to pay lower auto insurance premiums.
A Suffolk County Grand Jury returned indictments against Fioravanti on September 30, 2008. On November 4, 2008, he was arraigned in Suffolk Superior Court where he entered a plea of not guilty and was released on personal recognizance. Yesterday, he was ordered to serve
The case was prosecuted by Assistant Attorney General Audrey Cosgrove, and was investigated by Investigator Luke Goldworm, both of Attorney General Martha Coakley's Insurance and Unemployment Fraud Division. The IFB also assisted in this case.