Latest Headlines
- Over 120,000 Attend Friday Blue Angels Homecoming Show (With Gallery)
- Saturday Is The Last Day Of Early Voting
- Opinion: Voting For Half-Cent Sales Tax For Schools Is Critical
- Sneak Peek Photos: The Blue Angels, Thunderbirds Fly On Thursday
- Here’s The Air Show Schedule, Access Info, Prohibited Items List You Need To Know
- Flomaton Gets Past Northview 6-0 In Season Ender
- Tate Golfers Ben Robinson And Baylor Touchstone Qualify For Regionals
- Blue Angels Homecoming Show: Here Are Tips On How To Take The Best Photos
- Two People Injured In Cantonment Crash
- Thousands Attend Fall Festivals, Other Thursday Night Events In North Escambia
Appeals Court Rules In Cantonment Insurance Agent’s Racketeering, Money Laundering Case
March 1, 2016
A Cantonment insurance sentenced to eight years in prison for racketeering and money laundering may be set free from jail as he appeals, following a ruling released Monday by the Florida First District Court of Appeal.
Circuit Judge Ross Goodman found Randall Petersen guilty of conducting a fraudulent insurance scheme that involved the theft of several hundred thousand dollars of commissions and bonuses from American National Insurance Company and Liberty National Insurance Company.
Petersen filed an appeal and a motion for post-trial release, which would have allowed him to stay out of jail awaiting the outcome of the appeal. Judge Goodman denied the motion for post-trial release. The appellate court reversed and remanded the post-trial release motion back to Goodman for reconsideration. He can grant the post-trial release, or again deny with specific reasoning. The decision by the appeals court has no impact on Petersen’s conviction appeal.
In the scheme in which Petersen was convicted. he advertised job opportunities on the internet for College Consultants of the Gulf Coast, and induced hundreds of applicants to provide information for life insurance that he and his associates described as free job benefits.
The prosecutor, Assistant State Attorney Russ Edgar, showed that College Consultants was not a real company and Petersen merely used the information from the job applicants to complete life insurance applications that he submitted to the insurance companies. The companies paid Petersen advance commissions, which were as much as 130% of the first year premiums, and bonuses.
Before the companies realized the insureds were not employees, Petersen had obtained hundreds of thousands of dollars of commissions and bonuses and let the policies lapse for nonpayment.
Petersen was sentenced to eight years in prison followed by seven years probation.
Comments
5 Responses to “Appeals Court Rules In Cantonment Insurance Agent’s Racketeering, Money Laundering Case”
Hello, Michelle you have that right to think what you want to. My thoughts are that Mr. Petersen would not be in jail if he was the honest man you say he is. The jail and prisons are too full just to put someone in there for nothing. I’m not saying he is a bad person, good people commit crimes and sin also. But when they do, they must suffer the consequences that follow their actions. He committed a crime according to the Florida Law as stated by the court system and ruled by a Judge. I can’t say whether he committed a crime or not. I wasn’t involved with my money being taken. I can only go on the stories written about him. All the local stories were not just typed up and printed. If they were, then those responsible could be liable for their dishonesty. Besides, I find this website very informative and correct. Alan
This man is no thief, scumbag or any other demeaning thoughts you can think of.
Mr. Petersen is a man of God. He he is a wonderful son, brother, husband, father &
grandfather. Unless you know the real side of the story you do not have any right to believe everything you read on this less than informative website. God has been on this families side from day 1. The truth will be revealed soon enough. Until then
please respect this man’s family as it has not been easy for them by no means.
An Economic Criminal. Got caught when he made more money the illegal way versus trying to make the same amount of money of legitimate endeavour. Spending eight years confined will not change anything. The desire for more money than you need will always be there. Bewildered hit the nail on the head.
Man, they are keeping the tennis court prisons full. One thing about money crimes, the accused can always afford the best lawyers.
Setting aside the money he defrauded from the insurance companies, what about the hundreds of people that gave their personal information thinking they are applying for a job? Snakes like this scumbag will hide behind a rock for awhile and then crawl out again with some new defrauding scheme.