BROWARD COUNTY, Fla. — A South Florida insurance adjuster exploited Hurricane Ian victims by withholding more than $600,000 in insurance settlement money, according to arrest documents obtained by Local 10 News on Tuesday.
Jail records show Francisco Javier Chaparro Araus, 45, of Miramar, is facing multiple charges following an investigation by the Florida Department of Financial Services.
Investigators said that between Oct. 3, 2022, and Nov. 30, 2022, Chaparro Araus was “suspected of engaging in fraudulent, unethical, and dishonest acts within the insurance agency.”
They said that in the aftermath of Hurricane Ian, which made landfall Sept. 28, 2022, and caused widespread destruction across southwest Florida and the Gulf Coast, Chaparro Araus began “soliciting vulnerable homeowners that sustained property damage during the weather event.”
According to investigators, the homeowners entered into written agreements with Chaparro Araus, who worked for All Elements Public Adjusters LLC, to represent them in handling their insurance claims.
The contracts stated he would “serve on the policyholders’ behalf to adjust, negotiate, and attempt to secure a fair settlement of their insurance claim” in exchange for a 10% contingency fee based on recovered damages.
Authorities said a review of claim files and documents provided by multiple insurance companies showed the claims were resolved and settlement checks were issued.
However, investigators said the checks were deposited into a Bank of America business account controlled by Chaparro Araus, who “unlawfully withheld and failed to remit a total of $611,473.39 in insurance settlement proceeds owed to ten different policyholders.”
The affidavit states that the funds were later depleted through online transfers, Zelle transactions, wire transfers, debit card purchases and large cash withdrawals, including at the Seminole Hard Rock Hotel & Casino and Calder Casino.
According to the report, Chaparro Araus is accused of “misappropriation, conversion, or unlawful withholding of money belonging to insured clients or their beneficiaries.”
Jail records show the Chilean national is facing one count of obtaining property over $50,000 by fraud, one count of exploitation of the elderly between $20,000 and $100,000, two counts of misapplying insurance premiums over $100,000, and six counts of misapplying insurance premiums between $20,000 and $100,000.
As of Tuesday afternoon, he was not listed as an inmate in Broward County jail records.
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