Former Insurance Agent Indicted on Fraud Charge in Grundy County
CHATTANOOGA, Tenn. (WDEF) – An investigation by Special Agents with the Tennessee Bureau of Investigation has resulted in the indictment and arrest of a former insurance agent from Hixson.
At the request of 12th District Attorney General Mike Taylor, in April 2015, TBI Special Agents began investigating a complaint of insurance fraud against then-insurance agent Steven Ruggiero.
During the course of the investigation, Agents learned that in April 2014, the victim purchased workers’ compensation and liability insurance for his Monteagle business from Ruggiero.
The victim paid $9,147 for a policy Ruggiero claimed was underwritten by an insurance group.
The investigation revealed that the policy was determined to be fraudulent, and that Ruggiero had no authority to sell or issue policies from that insurance company.
On July 12th, the Grundy County Grand Jury returned an indictment charging 42-year-old Steven John Ruggiero with one count of Insurance Fraud.
On Friday, Ruggiero turned himself in to authorities at the Grundy County Jail, where he was booked on a $15,000 bond.