Fraud as a way to finance online gambling
An ex-insurance broker has been accused for committing fraud. He allegedly committed fraud to finance his online gambling activities. The 34-year-old man from Oakland allegedly defrauded nine clients. The frauds are estimated at €1.370.752, according to IFA Web News. Daniel J. Trolaro was an accredited insurance agent, securities dealer and licensed financial planner.
Trolaro used to work for Prudential Insurance Company of America. He has been indicted for collecting a total of €1.370.752 in money from nine clients. He used the money to fund his online gambling habit. Prudential plc sacked Trolaro after finding out he had committed fraud. The financial services company applied to the New Jersey Office of the Insurance Fraud Prosecutor to investigate the case.
Online gambling activities
The New Jersey Office of the Attorney General prosecutes the case. The results of the investigation show that Trolaro financed his online gambling activities with the money. He is accused for first-degree financial facilitation of money laundering, eight counts of second-degree stealing by failure to make compulsory disposition of possessions and two counts of third-degree theft by failure to make obligatory disposition of possessions.