Fifth Defendant Sentenced for Bank Fraud and Tax Offenses Arising from Multi-Year Homeowners Insurance Fraud Scheme

MIAMI – Lisette Patricio, 64, of Davie, has been sentenced to 45 months in federal prison for her role in a multi-year homeowners insurance fraud scheme that generated more than $6 million in illicit proceeds and resulted in the cancellation of nearly 4,000 homeowners insurance policies across Florida. U.S. District Judge Rodolfo A. Ruiz II imposed the sentence after Patricio pleaded guilty to conspiracy to commit bank fraud and making and filing false federal income tax returns. Patricio has also been ordered to forfeit $1.78 million in fraud proceeds and pay $593,033 to the IRS. Patricio is the fifth and final defendant to be convicted and sentenced for participating in the scheme. “Nearly 4,000 Florida homeowners had their insurance policies fraudulently canceled so that these defendants could enrich themselves,” said U.S. Attorney Jason A. Reding Quiñones for the Southern District of Florida. “This final sentence closes a years-long prosecution that held every participant accountable and recovered millions in criminal proceeds. Our Office will continue pursuing complex financial schemes that exploit vulnerable homeowners and threaten the integrity of our financial and insurance systems.” “Florida homeowners deserved justice, and they now got it,” said Special Agent in Charge Ron Loecker of the IRS Criminal Investigation (IRS-CI), Florida Field Office. “This case proves how effective our collaboration with state and local partners can be when financial fraud threatens our communities.” According to court records, Arturo Morales targeted financially distressed homeowners facing foreclosure or loan modification proceedings and used their identities to fraudulently cancel their homeowners insurance policies without their knowledge. Morales’s sister, Darely Carballeira, supervised licensed insurance agents who prepared false paperwork to process the unauthorized cancellations. To conceal the fraud, the conspirators falsely claimed to have obtained replacement coverage from another insurer. Instead, the refunded insurance premiums were diverted into bank accounts controlled by Patricio and used to purchase low-cost surplus-lines insurance policies that provided only limited coverage. Patricio oversaw the scheme’s recordkeeping and distributed the fraud proceeds among herself, Morales, Carballeira, and a team of cooperating insurance agents, including Yarelis Felipe. When homeowners questioned the cancellations or expressed concern about their insurance coverage, the agents falsely assured them that they remained fully insured or repurchased full coverage. The scheme resulted in the fraudulent cancellation of nearly 4,000 homeowners insurance policies and generated more than $6 million in illegal proceeds. Previously sentenced defendants include: Darely Carballeira (25-cr-20034 and 24-cr-20061): 51 months in prison for bank fraud and filing a false tax return. Antonio Carballeira (24-cr-20061): six months in prison for filing a false federal income tax return. Arturo Morales (25-cr-20034): 57 months in prison for bank fraud. Yarelis Felipe (25-cr-20328): 10 months in prison for bank fraud. IRS-CI, Florida Field Office, investigated the case with assistance from the Florida Department of Financial Services. Assistant U.S. Attorneys Jon Juenger and Sean Cronin prosecuted the cases. Related court documents and information may be found on the website of the District Court for the Southern District of Florida at www.flsd.uscourts.gov or at http://pacer.flsd.uscourts.gov , under case number 23-cr-20486. ###