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Burlington County Insurance Producer Charged With Fraud June 30, 2010

Posted by jefhenninger in News.

Lee Schaffer of Marlton, was charged with insurance fraud, theft by failure to make required disposition of property received, and theft by deception, all third-degree charges. The indictment alleges that between March 16 and July 8, 2005, Schaffer, an insurance producer who operated Focus Insurance Services, prepared a fictitious insurance proposal and  certificate of liability under the name of a fictitious insurance company, Custome Solutions.  Schaffer is then alleged to have used them in a transaction with Suburban Swim Association of South Jersey. Schaffer allegedly received $14,413 in premium payments from that company as well as Rancocas Valley Baseball League and Larchmont Barracudas Inc. for liability insurance, accident insurance, and directors’ and officers’ insurance.  However, authorities allege that Schaffer failed to pay the premiums to Bollinger Insurance Company and instead, kept the money for his own use.


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