Allegations in a Florida lawsuit against John Ritenour and Heath Ritenour involve Racketeering “RICO” Charges and Stolen Commissions.
The allegations in the Florida lawsuit include Civil Racketeering (“RICO”) and that RICO Defendants John Ritenour and Heath Ritenour conspired in a scheme to steal licensed agent accounts so they could greater enrich themselves and the stock price of their company.
Allegedly, from these illegal actions, IOA misappropriated commissions owed to independent insurance agents such as Plaintiffs Scott Strenger, Rick Collins and Louis Spagnuolo, as well as many others resulting in a “Ponzi” like scheme to artificially inflate its stock valuation.
According to the Florida lawsuit, these RICO Defendants coordinated the affairs of the RICO Enterprise through a pattern of racketeering activity that consisted of repeated violations with the intent to defraud Plaintiff and unsuspecting IOA Employees.
“These allegations encompass a wide-spread epidemic that has been ongoing for many years without boundaries,” said Jay Farrow of the Farrow Law Firm.
According to one of the lawsuits in New Jersey, allegedly, there was a culture with IOA that utilized unlicensed agents to defraud and discriminate against its victims, which allegedly violated New Jersey laws designed to protect against such unlicensed activity.
“By the looks of it, the Plaintiffs in New Jersey were allegedly fraudulently induced to enter a corrupt culture that rewarded unlicensed activity while they were being defrauded out of substantial earned commissions,” said attorney Farrow. “Clearly with these three similar lawsuits, it isn’t hard to see the pattern of alleged illicit behavior on the part of IOA and the Ritenours.”
Farrow concluded, “We look forward to justice being served as we are learning more facts related to the legal action.”
(Contact: Janine Davis, Janine@FarrowLawFirm.com, 954-252-9821)
Published at Mon, 16 Dec 2019 19:35:44 +0000