DELRAY BEACH, Fla. (CBS12) — An insurance company owner and licensed insurance agent from Delray Beach has been accused of embezzlement.
The Department of Financial Services said that John Macatangay, a licensed insurance agent and owner of ASM Insurance Services, operating as GreatFlorida Insurance, received a total of $3,870 in insurance premium funds from two victims, intended for homeowner’s insurance policies through Citizens Property Insurance Corporation.
According to the probable cause affidavit, on July 7, 2022, Macatangay, 45, collected $2,477 from one victim, and a week later, on July 14, he received $1,393 from another individual for similar policies. However, the investigation revealed that these funds were never forwarded to Citizens Property Insurance Corporation as promised. Instead, it appears the funds were redirected to other bank accounts…