He led ring that set homes on fire to bilk insurance companies. He's now going to prison. - Insurance News | InsuranceNewsNet

InsuranceNewsNet — Your Industry. One Source.™

Sign in
  • Subscribe
  • About
  • Advertise
  • Contact
Home Now reading Newswires
Topics
    • Advisor News
    • Annuity Index
    • Annuity News
    • Companies
    • Earnings
    • Fiduciary
    • From the Field: Expert Insights
    • Health/Employee Benefits
    • Insurance & Financial Fraud
    • INN Magazine
    • Insiders Only
    • Life Insurance News
    • Newswires
    • Property and Casualty
    • Regulation News
    • Sponsored Articles
    • Washington Wire
    • Videos
    • ———
    • About
    • Meet our Editorial Staff
    • Advertise
    • Contact
    • Newsletters
  • Exclusives
  • NewsWires
  • Magazine
  • Newsletters
Sign in or register to be an INNsider.
  • AdvisorNews
  • Annuity News
  • Companies
  • Earnings
  • Fiduciary
  • Health/Employee Benefits
  • Insurance & Financial Fraud
  • INN Exclusives
  • INN Magazine
  • Insurtech
  • Life Insurance News
  • Newswires
  • Property and Casualty
  • Regulation News
  • Sponsored Articles
  • Video
  • Washington Wire
  • Life Insurance
  • Annuities
  • Advisor
  • Health/Benefits
  • Property & Casualty
  • Insurtech
  • About
  • Advertise
  • Contact
  • Editorial Staff

Get Social

  • Facebook
  • X
  • LinkedIn
Newswires
Newswires RSS Get our newsletter
Order Prints
May 22, 2018 Newswires
Share
Share
Post
Email

He led ring that set homes on fire to bilk insurance companies. He’s now going to prison.

Miami Herald (FL)

May 23--The ringleader of a criminal organization that defrauded insurance companies out of millions of dollars by setting fire to homes and then filing false claims will serve 20 years in state prison and pay $1.9 million in restitution.

Jorge Espinosa Sr. -- who earlier this year allegedly plotted to 'take care of' a Miami prosecutor" by hiring a hit-man -- was sentenced Friday. He had pleaded guilty to racketeering, conspiracy, and organized scheme to defraud, as well as more than 28 counts of arson and multiple counts of insurance fraud and grand theft.

The sentence was part of a plea deal struck with prosecutors. He didn't face additional charges in the supposed plot to harm the prosecutor.

"The insurance fraud ring that Jorge Fausto Espinosa Sr. led gave a sense of professionalism and expertise to the age-old crime of theft," said Miami-Dade State Attorney Katherine Fernandez Rundle in a news release.

Espinosa, 62, who owned the public adjuster company Nationwide Adjusters LLC, was arrested in 2014 as Operation Flames and Flood, a joint effort between the Miami-Dade State Attorney's Office, the Bureau of Fire and Arson Investigations and the Miami-Dade Police Department.

According to the state attorney's office, Espinosa "intentionally set multiple homes on fire as well as caused water damage to other homes with the sole purpose of filing false and fraudulent insurance claims."

"The homeowners were recruited by Espinosa as part of his Arson for Hire Scheme involving homes in Miami-Dade, Lee and Collier County," the office wrote in a news release announcing Espinosa's sentence.

In May 2015, investigators announced another operation dubbed Operation Flames and Flood II that yielded an additional 31 arrests, all of which had ties to Espinosa's scheme, investigators said at the time.

In all, the state attorney's office said 14 insurance carriers were affected by the more than 50 false claims that totaled more than $14 million.

"Insurance policy holders were Espinosa's real victims," Fernandez Rundle said. "This is a wonderful result for the hardworking prosecutors, police and fire investigators who put this complex case together and worked it to the proper ending."

___

(c)2018 Miami Herald

Visit Miami Herald at www.miamiherald.com

Distributed by Tribune Content Agency, LLC.

Older

Fire at Richlandtown Inn displaces 16, damages structure

Newer

Congressional candidate John Ward: Keep Puerto Rican evacuees from voting

Advisor News

  • Benefit Costs Squeeze Schools, Driving Cuts, Tax Hikes And Difficult Tradeoffs
  • Why client insurance needs could change even if their life doesn’t
  • Most Gen Z investors think less than a year ahead when making financial decisions
  • IRI pitches retirement agenda to Jeffries as democrats shape affordability platform
  • Help child-free clients plan for their later years
More Advisor News

Annuity News

  • Guidance, bulletin or reg? NAIC debates form of annuity illustration update
  • Nationwide adds mutual fund-linked strategy to New Heights Select FIA
  • NUNN INTRODUCES BILL TO CUT RED TAPE, GIVE IOWANS CLEARER INSURANCE INFORMATION
  • NAIC working group pressed to accelerate annuity illustration overhaul
  • State Auditor James Brown Kicks Off Life Insurance Awareness Month With Policy Locator Tool
More Annuity News

Health/Employee Benefits News

  • Trump finally puts Obamacare to good use
  • Benefit Costs Squeeze Schools, Driving Cuts, Tax Hikes And Difficult Tradeoffs
  • Investigators at Emory University School of Medicine Zero in on Medical Education (Disability prevalence, disclosure, and accommodation use in pediatric residency: results from a pilot study): Education – Medical Education
  • Trump has promised $500 health insurance rebates — but not in New Mexico
  • Illinois alerts more than 700,000 people they will or could lose public health insurance
Sponsor
More Health/Employee Benefits News

Life Insurance News

  • AM Best Revises Outlooks to Negative for Kemper Corporation, Its Affiliates and Subsidiaries
  • WARREN PROBES RISE OF PRIVATE INVESTMENT FIRMS IN INSURANCE SECTOR FOLLOWING MARK WALTER SCANDAL
  • AM Best Affirms Credit Ratings of Erie Insurance Group’s Members and Erie Family Life Insurance Company
  • MIB reports double-digit life insurance app activity in record August
  • 42% of consumers are confused and unconvinced by life insurance
Sponsor
More Life Insurance News

NEWS INSIDE

  • Companies
  • Earnings
  • Economic News
  • INN Magazine
  • Insurtech News
  • Newswires Feed
  • Regulation News
  • Washington Wire
  • Videos

FEATURED OFFERS

Press Releases

  • Classic Car Insurer OpenRoad Insurance Expands to 40 U.S. States in Two Years
  • How Aspire General Turned an Early Technology Bet Into Claims Automation at Scale with Kyber
  • Adjusto launches AI-Native contents claims services powered by its technology platform
  • URL Insurance Group Celebrates 40 Years of Service, Growth, and Industry Leadership
  • MassMutual Ascend Surpasses $2 Billion in Lifetime Advisory Annuity Sales, Reflecting Continued Momentum in RIA Channel
More Press Releases > Add Your Press Release >

How to Write For InsuranceNewsNet

Find out how you can submit content for publishing on our website.
View Guidelines

Topics

  • Advisor News
  • Annuity Index
  • Annuity News
  • Companies
  • Earnings
  • Fiduciary
  • From the Field: Expert Insights
  • Health/Employee Benefits
  • Insurance & Financial Fraud
  • INN Magazine
  • Insiders Only
  • Life Insurance News
  • Newswires
  • Property and Casualty
  • Regulation News
  • Sponsored Articles
  • Washington Wire
  • Videos
  • ———
  • About
  • Meet our Editorial Staff
  • Advertise
  • Contact
  • Newsletters

Top Sections

  • AdvisorNews
  • Annuity News
  • Health/Employee Benefits News
  • InsuranceNewsNet Magazine
  • Life Insurance News
  • Property and Casualty News
  • Washington Wire

Our Company

  • About
  • Advertise
  • Contact
  • Meet our Editorial Staff
  • Magazine Subscription
  • Write for INN

Sign up for our FREE e-Newsletter!

Get breaking news, exclusive stories, and money- making insights straight into your inbox.

select Newsletter Options
Facebook Linkedin Twitter
© 2026 InsuranceNewsNet.com, Inc. All rights reserved.
  • Terms & Conditions
  • Privacy Policy
  • InsuranceNewsNet Magazine

Sign in with your Insider Pro Account

Not registered? Become an Insider Pro.