Insurance Agent Charged for Her Alleged Role in an Insurance Fraud Involving Applications for Multi-Million Dollar Life Insurance Policies

TRENTON, N.J., Dec. 15 -- The New Jersey Attorney General issued the following news release:

Attorney General Paula T. Dow and Criminal Justice Director Stephen J. Taylor announced that a New York City woman has been indicted for her alleged role in an insurance fraud scheme involving applications for multi-million dollar life insurance policies.

According to Acting Insurance Fraud Prosecutor Riza Dagli, Beverly Stewart (also known as Angela Sims), 61, of New York, N.Y., an insurance agent formerly licensed in New Jersey and who is currently licensed as an insurance agent in New York, was charged with second-degree conspiracy to commit insurance fraud, second-degree attempted theft by deception and two counts of third-degree insurance fraud.

The Hudson County grand jury indictment alleges that between May 22, 2008 and July 27, 2009, Stewart conspired with Pape Michael Seck, 40, of New York, to commit insurance fraud by creating three documents on "Sims, Stewart and Weis, PC" letterhead in which Stewart, as "Angela Sims," purported to be the financial advisor and accountant of Ambassador Mansour Seck.

It is alleged that, in the first document, Stewart falsely claimed that Mansour Seck had over $10 million in assets and would have no difficulty paying $300,000 in insurance premiums. The indictment alleges that, in the second document, Stewart falsely claimed that Mansour Seck had real estate holdings totaling over $7 million as of January 2009, had cash on hand totaling $2.6 million and a 2008 unearned income of approximately $670,000. It is further alleged that, in the third document, Stewart falsely claimed that Mansour Seck owned real estate in Washington, D.C., valued in excess of $4 million, real estate in Jersey City, valued in excess of $1.3 million and real estate in Upper Marlboro, Maryland, valued at approximately $200,000 to $300,000. The three fraudulent documents were allegedly created so that Pape Michael Seck, an insurance agent, could submit applications to Prudential Life Insurance and Aviva Life and Annuity Company for multi-million dollar life insurance policies for Mansour Seck.

The indictment also alleges that Beverly Stewart, acting as Angela Sims, was not Mansour Seck's accountant and financial advisor and she knew that Mansour Seck did not have the assets, real estate and cash on hand stated in the fraudulent documents.

In June, Pape Michael Seck was sentenced to three years in state prison by Superior Court Judge Joseph V. Isabella in Hudson County. Seck was also ordered to forfeit his license as an insurance agent in New Jersey and pay a $10,000 civil insurance fraud fine. The sentence was based on Seck's April 12 guilty plea to an accusation charging him with two counts of second-degree insurance fraud.

Detective L. Cross, Civil Investigator James Stavola and Deputy Attorneys General Norma R. Evans, Deputy Chief Counsel for the Office of the Insurance Fraud Prosecutor, and Nicole D. Rizzolo were assigned to the investigation into this case. Rizzolo presented the case to the Hudson County grand jury. Acting Insurance Fraud Prosecutor Dagli thanked Prudential Life Insurance Company and Aviva Life and Annuity Company for their assistance in the investigation.

The indictment, which was handed up yesterday, is merely an accusation and the defendant is presumed innocent until proven guilty. Second-degree crimes carry a maximum sentence of 10 years in state prison and a criminal fine of $150,000, while third-degree crimes carry a maximum sentence of five years in state prison and a criminal fine of $15,000. The state will request that Stewart, who has an expired New Jersey insurance producer's license, will be required to forfeit her right to renew her license. Stewart may also face civil insurance fraud fines.

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