A 43-yr-old man was sentenced to five years in prison after making over €500,000 by selling fictitious insurance plans and no claims incentives, reports Breaking News.
Over a seven-year period, Egidijus Aleliunas, of Paddocks Way, Adamstown, Lucan, entered a guilty plea to charges of money laundering, deceit, and fraud.
He created hundreds of fictitious insurance policies for customers who were denied coverage or who desired a lower cost of coverage, and he used part of the proceeds to buy watches, vehicles, and cryptocurrency.
Viaceslav Pavlov, his father-in-law Natalja Pavlova, and his wife Anastasija Pavlova all received two-year suspended sentences for money laundering between €18,000 and €20,000 on his behalf, reports Breaking News.
The swindle was estimated by Gardaí to be worth €4 million.
In 2004, Egidijus Aleliunas moved to Ireland from Lithuania, where he worked in cyber security and as a security guard.
But he pretended to be a “ghost broker” and offered genuine insurance plans based on fictitious data and fake no-claims bonuses that he created with his own hands, reports Breaking News.
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