Florida Chief Financial Officer Jimmy Patronis recently announced the recent arrest of the owner of JACM Construction Corp., after his alleged attempt to operate a shell company with the sole intent of circumventing the state’s workers’ compensation laws. The man obtained a comp policy for JACM Construction Corp and reported that his business operated with an estimated annual payroll of $112,000.00 for work classified under the description of wallboard installation and carpentry. The Department of Financial Services’ Bureau of Workers’ Comp Fraud along with the Broward Sheriff’s Office (BSO) was conducting a surveillance operation at a Vero Beach money service business (MSB) when a suspicious transaction for JACM Construction Corp. was identified. The transaction involved owner, the president and sole registered agent of JACM, cashing 27 business to business checks totaling $127,025.37 – than the estimated yearly payroll. This led to the arrest.
Read more via WorkCompWire here.