TALLAHASSEE, FL – September 9, 2010 – (RealEstateRama) — Florida CFO Alex Sink announced today the culmination of an extensive insurance fraud investigation with the arrest of Luis M. Espinosa, 60, and Rene M. Cambert, 55, on eight first degree felony counts each for filing false or misleading financial statements for First Commercial Insurance Company (FCIC) and its affiliated company, First Commercial Transportation and Property Insurance Company (FCTPIC) with the Florida Office of Insurance Regulation (OIR). Espinosa was the president and CEO and Cambert was the vice president and chief operating officer of FCIC/ FCTPIC at the time the companies were ordered into receivership for liquidation in 2009. Each felony count carries a potential 30-year sentence.
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