The alleged Defendants include John Ritenour, Valli Ritenour, Donald H. Poag, Gregory Masters, Chip Meyers, Jeff Lagos, John Thurman, Danny Anderson, Rob Motley, Bruce Eades, John Tenuto, Ricky Lott, Bruce Berthelsen, John Wick, Damon Olinto, Kim Harrison, Carol Musselwhite, Poag Surety and Insurance Services, Inc., James Max McKay, McKay Insurance.
Orlando, FL, July 28, 2020 --([URL='https://www.pr.com/']PR.com)-- A Motion for Leave to File 2nd Amended Complaint was filed in a pending Lawsuit against Insurance Office of America, Inc., Heath Ritenour, John Ritenour, Valli Ritenour, Donald H. Poag, Gregory Masters, Chip Meyers, Jeff Lagos, John Thurman, Danny Anderson, Rob Motley, Bruce Eades, John Tenuto, Ricky Lott, Bruce Berthelsen, John Wick, Damon Olinto, Kim Harrison, Carol Musselwhite, Poag Surety and Insurance Services, Inc., James Max McKay, McKay Insurance, LLC alleging claims including Civil Racketeering, Civil Conspiracy, Fraudulent Concealment, Fraudulent Misrepresentation and Aiding and Abetting.
The Second Amended Complaint alleges, Racketeering "RICO" "Defendants John and Heath are the proverbial wolves in sheep’s clothing as they built an empire through their or their cronies active and/or passive commission of multiple fraudulent schemes, all primarily geared towards the artificial inflation of Insurance Office of America’s privately held stock.
[/URL]
These schemes include (a) skimming insurance commissions from Insurance Office of America’s sales agents through 'cooking the books'; (b) buying 'books of business' and refusing to pay commissions on accounts; (c) laundering their illegal gains through scores of separate corporate vehicles and real estate transactions; (d) the manipulation of 'RICO' Defendant Insurance Office of America’s stock by making the company look healthier by claiming large accounts as belonging to Insurance Office of America through bullying, deceit, terminations, intimidation and 'gangster-like' behavior; (e) attempting to intimidate a witness; (f) the intentional destruction of evidence such as remotely 'swiping' cellular phone data; (g) stealing books of business from other insurance agencies; (h) the manipulation of corporate documents to conceal a scheme to poach competing agency customers; (i) the systemic culture and practice of fraudulently over-billing and over charging IOA customers by cleverly charging 'agency fees' and additional 'marketing fees' over and above a clients’ insurance premium to gain additional commissions and fraudulently double-bill; (j) the manipulation of information to deceive customers into paying additional amounts for their premiums; and (k) systemically paying Insurance Office of America female agents and employees less than men.”
It is further alleged that, "RICO" "Defendant’s real secret is that by encouraging a culture of stealing accounts for Insurance Office of America, skimming off commissions, overcharging Insurance Office of America customers, shaking down Insurance Office of America agents, stealing from competing insurance agencies and paying females less than men, all while 'RICO' Defendant Insurance Office of America’s stock price can be manipulated for their personal gain and that of their cronies - who have enabled them for years."
The lawsuit alleges, “Yet another feeder band, which creates the fraudulent over inflation of Insurance Office of America’s stock, while stealing accounts from IOA’s competitors. In the matter styled Insurance Office of Raymond N. Strickland, Jr., Inc. v. Vicki Graves, Insurance Office of America, Inc., Christopher Labrecque, Anthony Tatum, James Powell and Kelsey Haas, In The Circuit Court of the Fifth Judicial Circuit, In and For Marion County, Florida, Case Number 2016-2192-CA (“Graves Case”), IOA and others were sued for, not only stealing competitor accounts, but modifying internal documents to conceal the theft and fraud. More specifically, it is alleged that IOA employees manipulated an employee’s contract to disguise she was working for IOA, while poaching clients and essentially stealing hundreds of thousands of dollars from one of their competitors."
Insurance Office of America Faces Alleged Stock Price Manipulation, Fraud & Theft Claims – Witnesses Sought
Orlando, FL, July 28, 2020 --([URL='https://www.pr.com/']PR.com)-- A Motion for Leave to File 2nd Amended Complaint was filed in a pending Lawsuit against Insurance Office of America, Inc., Heath Ritenour, John Ritenour, Valli Ritenour, Donald H. Poag, Gregory Masters, Chip Meyers, Jeff Lagos, John Thurman, Danny Anderson, Rob Motley, Bruce Eades, John Tenuto, Ricky Lott, Bruce Berthelsen, John Wick, Damon Olinto, Kim Harrison, Carol Musselwhite, Poag Surety and Insurance Services, Inc., James Max McKay, McKay Insurance, LLC alleging claims including Civil Racketeering, Civil Conspiracy, Fraudulent Concealment, Fraudulent Misrepresentation and Aiding and Abetting.
The Second Amended Complaint alleges, Racketeering "RICO" "Defendants John and Heath are the proverbial wolves in sheep’s clothing as they built an empire through their or their cronies active and/or passive commission of multiple fraudulent schemes, all primarily geared towards the artificial inflation of Insurance Office of America’s privately held stock.
[/URL]
These schemes include (a) skimming insurance commissions from Insurance Office of America’s sales agents through 'cooking the books'; (b) buying 'books of business' and refusing to pay commissions on accounts; (c) laundering their illegal gains through scores of separate corporate vehicles and real estate transactions; (d) the manipulation of 'RICO' Defendant Insurance Office of America’s stock by making the company look healthier by claiming large accounts as belonging to Insurance Office of America through bullying, deceit, terminations, intimidation and 'gangster-like' behavior; (e) attempting to intimidate a witness; (f) the intentional destruction of evidence such as remotely 'swiping' cellular phone data; (g) stealing books of business from other insurance agencies; (h) the manipulation of corporate documents to conceal a scheme to poach competing agency customers; (i) the systemic culture and practice of fraudulently over-billing and over charging IOA customers by cleverly charging 'agency fees' and additional 'marketing fees' over and above a clients’ insurance premium to gain additional commissions and fraudulently double-bill; (j) the manipulation of information to deceive customers into paying additional amounts for their premiums; and (k) systemically paying Insurance Office of America female agents and employees less than men.”
It is further alleged that, "RICO" "Defendant’s real secret is that by encouraging a culture of stealing accounts for Insurance Office of America, skimming off commissions, overcharging Insurance Office of America customers, shaking down Insurance Office of America agents, stealing from competing insurance agencies and paying females less than men, all while 'RICO' Defendant Insurance Office of America’s stock price can be manipulated for their personal gain and that of their cronies - who have enabled them for years."
The lawsuit alleges, “Yet another feeder band, which creates the fraudulent over inflation of Insurance Office of America’s stock, while stealing accounts from IOA’s competitors. In the matter styled Insurance Office of Raymond N. Strickland, Jr., Inc. v. Vicki Graves, Insurance Office of America, Inc., Christopher Labrecque, Anthony Tatum, James Powell and Kelsey Haas, In The Circuit Court of the Fifth Judicial Circuit, In and For Marion County, Florida, Case Number 2016-2192-CA (“Graves Case”), IOA and others were sued for, not only stealing competitor accounts, but modifying internal documents to conceal the theft and fraud. More specifically, it is alleged that IOA employees manipulated an employee’s contract to disguise she was working for IOA, while poaching clients and essentially stealing hundreds of thousands of dollars from one of their competitors."
Insurance Office of America Faces Alleged Stock Price Manipulation, Fraud & Theft Claims – Witnesses Sought
