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Insurance agent accused of embezzling premiums

By Staff | May 5, 2011

A Cape Coral insurance agent is accused of pocketing nearly $54,000 in customer premiums, resulting in the cancellation of some of their policies.
Susan Brand Agostino, 59, of 3806 S.W. Fifth Place, was charged last week with one count each of embezzle misappropriate insurance premium $20,000 under $100,000, fraud swindle obtain property $50,000 or more and larceny $20,000 less than $100,000.
She had been released from jail on $40,000 bond as of Wednesday.
According to an arrest report, Agostino collected premiums from several customers for commercial insurance policies and did not forward all of the premiums to the carriers for payment on those policies. Coverages lapsed and the policies were eventually cancelled for non-payment.
She allegedly defrauded at least four clients between October 2008 and January 2010, pocketing an estimated $53,577 for her own personal use.
Agostino did not return a message seeking comment Wednesday.
At the time of the alleged incidents, Agostino was working for an area agency as a licensed agent, records state. When she was taken into custody last week, Agostino was working at another insurance agency in the southeast Cape.
She was no longer employed at the Cape agency as of Wednesday.
Agostino has a court date scheduled for May 31, according to jail records.