The public alerts are coming thick and fast from the Financial Services Commission of Ontario (FSCO), issuing another warning to consumers about an organization that is not licensed to do insurance business in the province.
FSCO reports Strategy Insurance Limited appears to have issued a fraudulent insurance policy to an individual against any amounts owed to the Canada Revenue Agency, following the individual’s donation to a charity.
FSCO urges brokers to remind their clients that purchasing items or insurance from agents or insurers who are not licensed in Ontario are not protected under the provincial Insurance Act and regulations that govern Ontario’s licensed insurance companies and agents.
It was just last week that FSCO put a warning on a Wangro Antoun, who went under the aliases of Yasser Antoun, Yasser Antoun-Debbo, Yaseer Debbo and Mano Faroq, who had been meeting with clients in coffee shops and retail malls, receiving cash payments for arranging false automobile insurance coverage.
Police have charged Antoun with fraud, false pretences, possession of property obtained by crime and uttering forged documents.
Back in August another FSCO warning on an individual known as Mr. Yeme and Hendrickson TD Insurance was issued, as Yeme had been using a popular Canadian banking brand to peddle false auto insurance.
In the case of Yeme, he had provided a phone number, 647 461 5540, and was communicating with his victims via text message.
