Saturday, 25 May 2019

Fairfield Attorney Suspended for 6 Years Over Insurance Fraud

David Quatrella David Quatrella. Photo: Genevieve Reilly/Fairfield Citizen

A Fairfield attorney who began serving a three-year prison term in July 2017 for insurance fraud has now had his law license suspended until July 2023.

Last month Milford Superior Court Judge Peter Brown suspended David Quatrella’s law license for six years, retroactive to July 2017, when the ex-attorney started serving his prison sentence. Brown said the 63-year-old Quatrella could apply for reinstatement earlier if his supervised release is terminated early.

Quatrella, who worked for Quatrella & Rizio until it disbanded in 2015, was sentenced to three years in prison followed by three years of supervised release for his part in an insurance scheme that netted him $272,000. He pleaded guilty to one count of conspiracy to commit wire fraud. News of his suspension was part of a report on attorney discipline by the Office of the Chief Disciplinary Counsel.

Quatrella was charged with scamming insurance companies into issuing life insurance policies on elderly victims to benefit himself and others.

According to court documents and statements, Quatrella profited by lying about the policies and providing misleading information about premium financing, while also withholding details about plans to later sell the policies. He and brokers in three other states assisted seniors in applying for multimillion-dollar life insurance policies for about seven and a half years beginning in June 2008, according to investigators.

Quatrella, court documents said, offered people free life insurance for two years, after which he and his co-conspirators would attempt to sell the policies and provide a share of the proceeds back to the insured. The seniors, according to the office of the U.S. attorney for the District of Connecticut, were not obligated to pay anything and were usually told the premiums were borrowed from a third-party source.

Quatrella and the others recruited investors to finance the payments of premiums of the life insurance policies, with the understanding the investors would earn a profit on the sale of the policy, according to investigators. They then submitted to various life insurance providers applications containing false and misleading information that failed to disclose the policies’ third-party premium funding arrangements.

Quatrella and the others received large commissions from the providers for originating the insurance policies, and Quatrella personally profited to the tune of $272,000, according to prosecutors.

Quatrella is represented by Andrew Bowman, of Westport-based Law Offices of Andrew B. Bowman, who did not respond to a request for comment Thursday.

The matter was investigated by the FBI and prosecuted by Assistant U.S. Attorney Avi Perry.

Related Stories:

Attorney Gets Prison for Insurance Fraud

Former Attorney Pleads Guilty to Insurance Fraud Scheme


« »