Miami Insurance Broker Pleads Guilty to $6 Million Bank Fraud Targeting Georgia Credit Union

After committing a $6 million scheme against Peach State Federal Credit Union, an insurance broker from Florida pleaded guilty to counts of bank fraud. According to the U.S. Attorney’s Office, Heleonel Gonzalez, who was associated with Miami Lakes’ Sharp Insurance Agency, Inc., used dishonesty to divert loan profits meant for insurance premiums and use the funds for his personal debt and costs.

According to U.S. Attorney Ryan K. Buchanan, Gonzalez came up with a profitable plan, shrouded in deceit and fraud, to embezzle loan profits from Peach State Federal Credit Union for his own benefit. The U.S. Attorney’s Office for the Northern District of Georgia continued its statement by reaffirming their ongoing efforts to combat financial wrongdoings in collaboration with law enforcement.

Gonzalez committed fraud between around January 2023 and January 2024, persuading Peach State Federal Credit Union to grant loans by submitting falsified documentation on clients’ behalf. These Premium Finance Agreements falsely claimed that insurance policies were in force when none actually existed. According to the U.S. Attorney’s Office, the fraud cost the Georgian credit union millions of dollars in losses and harmed company integrity, according to FBI Atlanta Acting Special Agent in Charge Sean Burke.

According to the U.S. Attorney’s Office, the 48-year-old Florida broker is set to be sentenced on February 20, 2025, and might suffer serious repercussions for his crimes. The Federal Bureau of Investigation’s investigation efforts, spearheaded by Assistant U.S. Attorney John Russell Phillips, drove the prosecution’s case against Gonzalez. The U.S. Attorney’s Public Affairs Office is the place to direct inquiries and requests for more information.

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