John Ritenour & Insurance Office of America Faces Alleged Stock Price Manipulation, Fraud & Theft Claims
By Insurance Fraud
August 01, 2020 |
|
Five (5) Law Firms Allege Civil Racketeering "RICO," Fraud & Account Theft Against Defendant Insurance Office of America.
PR9.NET August 01, 2020 - A Motion for Leave to File 2nd Amended Complaint was filed in a pending Lawsuit against Insurance Office of America, Inc., Heath Ritenour, John Ritenour, Valli Ritenour, Donald H. Poag, Gregory Masters, Chip Meyers, Jeff Lagos, John Thurman, Danny Anderson, Rob Motley, Bruce Eades, John Tenuto, Ricky Lott, Bruce Berthelsen, John Wick, Damon Olinto, Kim Harrison, Carol Musselwhite, Poag Surety and Insurance Services, Inc., James Max McKay, McKay Insurance, LLC alleging claims including Civil Racketeering, Civil Conspiracy, Fraudulent Concealment, Fraudulent Misrepresentation and Aiding and Abetting.
The Second Amended Complaint alleges, Racketeering "RICO" "Defendants John and Heath are the proverbial wolves in sheep’s clothing as they built an empire through their or their cronies active and/or passive commission of multiple fraudulent schemes, all primarily geared towards the artificial inflation of Insurance Office of America’s privately held stock. These schemes include (a) skimming insurance commissions from Insurance Office of America’s sales agents through 'cooking the books'; (b) buying 'books of business' and refusing to pay commissions on accounts; (c) laundering their illegal gains through scores of separate corporate vehicles and real estate transactions; (d) the manipulation of 'RICO' Defendant Insurance Office of America’s stock by making the company look healthier by claiming large accounts as belonging to Insurance Office of America through bullying, deceit, terminations, intimidation and 'gangster-like' behavior; (e) attempting to intimidate a witness; (f) the intentional destruction of evidence such as remotely 'swiping' cellular phone data; (g) stealing books of business from other insurance agencies; (h) the manipulation of corporate documents to conceal a scheme to poach competing agency customers; (i) the systemic culture and practice of fraudulently over-billing and over charging IOA customers by cleverly charging 'agency fees' and additional 'marketing fees' over and above a clients’ insurance premium to gain additional commissions and fraudulently double-bill; (j) the manipulation of information to deceive customers into paying additional amounts for their premiums; and (k) systemically paying Insurance Office of America female agents and employees less than men.â€
# # #
|
PR9.NET
Business
Computers
