Sunday, December 2, 2007

Man Accused of Insurance Fraud Loses State License

The state Division of Insurance has canceled the insurance license of a Winthrop man accused by Secretary of State William Galvin of allegedly selling fraudulent insurance policies to the elderly.

The division said its action was taken earlier this month after Joseph Gennaco failed to renew his license on time. But the division made clear the case involves more than a simple failure by Gennaco to renew his license.

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