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Welcome to Fairfax Underground, a project site designed to improve communication among residents of Fairfax County, VA. Feel free to post anything Northern Virginia residents would find interesting.
Leesburg Men Plead Guilty In Federal Insurance Fraud Case
Posted by:
McGruff the Crime Dog
()
Date: November 12, 2011 04:47PM
Leesburg Men Plead Guilty In Federal Insurance Fraud Case
Posted: Monday, November 7, 2011 9:00 am
http://www.leesburg2day.com/news/article_0ed5adba-0959-11e1-a475-001cc4c03286.html
The two Leesburg residents indicted by a federal grand jury in July on charges related to an alleged life insurance scheme pleaded guilty last week to one count of conspiracy to commit wire fraud.
According to the U.S. Attorney's Office, James C. Cilenti, 47, and Christopher Agresto, 36, attempted to defraud the USAA Life Insurance company of $500,000 related to a policy on Cilenti's wife's life. Although Cilenti was the primary beneficiary of the policy, the Loudoun County Sheriff's Office suspected he may have played a role in her 2009 death. Although no charges were filed in that case, the sheriff's office investigation led USAA to decline the payout.
According to the court documents, Cilenti's adopted daughter Lauren Cilenti, then a minor, was the contingent beneficiary and Cilenti and Agresto, a Leesburg attorney, created a trust for her benefit, with Agresto as the grantor and trustee. They told USAA Cilenti would not control or benefit from the trust assets. USAA paid $507,000 to the trust account and within a week Agresto wrote checks for $300,000 and $100,000 to Cilenti, who deposited them in his business account, according to the indictment. Over the next five weeks Agresto wrote additional checks to Cilenti or made wire transfers totaling $40,000 from the trust account, all of which went into Cilenti's business account.
Federal authorities said that three months later most of the insurance money had been spent, with little if any of benefit to Cilenti's daughter.
It also was alleged Cilenti applied for Social Security Administration survivor death benefits on behalf of Lauren by forging her signature and using her Social Security Number without her knowledge and then spent the $7,600 in survivor payments made to him on her behalf.
Cilenti and Agresto were charged with conspiracy to commit wire fraud, four counts of wire fraud and five counts of money laundering. Cilenti was also indicted on five additional counts of money laundering, two counts of Social Security-related fraud and one count of aggravated identity theft.
In addition to the defendants pleading guilty to week to one count each of conspiracy to commit wire fraud, Cilenti also pleaded guilty to one count of aggravated identity theft.
The maximum penalty for conspiracy to commit wire fraud is 20 years in prison. Aggravated identity theft carries a mandatory two-year sentence, which must run consecutively to any other sentence imposed.
Posted: Monday, November 7, 2011 9:00 am
http://www.leesburg2day.com/news/article_0ed5adba-0959-11e1-a475-001cc4c03286.html
The two Leesburg residents indicted by a federal grand jury in July on charges related to an alleged life insurance scheme pleaded guilty last week to one count of conspiracy to commit wire fraud.
According to the U.S. Attorney's Office, James C. Cilenti, 47, and Christopher Agresto, 36, attempted to defraud the USAA Life Insurance company of $500,000 related to a policy on Cilenti's wife's life. Although Cilenti was the primary beneficiary of the policy, the Loudoun County Sheriff's Office suspected he may have played a role in her 2009 death. Although no charges were filed in that case, the sheriff's office investigation led USAA to decline the payout.
According to the court documents, Cilenti's adopted daughter Lauren Cilenti, then a minor, was the contingent beneficiary and Cilenti and Agresto, a Leesburg attorney, created a trust for her benefit, with Agresto as the grantor and trustee. They told USAA Cilenti would not control or benefit from the trust assets. USAA paid $507,000 to the trust account and within a week Agresto wrote checks for $300,000 and $100,000 to Cilenti, who deposited them in his business account, according to the indictment. Over the next five weeks Agresto wrote additional checks to Cilenti or made wire transfers totaling $40,000 from the trust account, all of which went into Cilenti's business account.
Federal authorities said that three months later most of the insurance money had been spent, with little if any of benefit to Cilenti's daughter.
It also was alleged Cilenti applied for Social Security Administration survivor death benefits on behalf of Lauren by forging her signature and using her Social Security Number without her knowledge and then spent the $7,600 in survivor payments made to him on her behalf.
Cilenti and Agresto were charged with conspiracy to commit wire fraud, four counts of wire fraud and five counts of money laundering. Cilenti was also indicted on five additional counts of money laundering, two counts of Social Security-related fraud and one count of aggravated identity theft.
In addition to the defendants pleading guilty to week to one count each of conspiracy to commit wire fraud, Cilenti also pleaded guilty to one count of aggravated identity theft.
The maximum penalty for conspiracy to commit wire fraud is 20 years in prison. Aggravated identity theft carries a mandatory two-year sentence, which must run consecutively to any other sentence imposed.