A Naples construction company owner accused of avoiding about $700,000 in workers' compensation premium payments was arrested on charges of fraud last week.
Raimundo Hernandez-Argueta, owner of
Complete Framing Professionals, was arrested by the Collier County
Sheriff's Office May 12 and was released on $30,000 bond the same day.
Florida Department of Financial Services insurance fraud and workers'
compensation divisions started investigating Hernandez in August 2013.
Visits to the Complete Framing Professionals job site led investigators
to think Hernandez was concealing his company's payroll amount,
according to a release.
Investigators found that Hernandez bought
an insurance policy through the Florida United Business Association for
four employees, each earning an annual wage of $50,000. Hernandez paid
$26,910 for the one-year policy, according to the release.
documented 108 employees and more than $5.5 million in total earnings
during that time. Based on those numbers, Hernandez should have paid a
premium of $728,057, according to the Department of Financial Services,
the release stated.
If convicted, Hernandez faces up to 15 years in prison.