Biggest Loser? You Got That Right !

A Suffolk County grand jury returned indictments against a Boston man in connection with allegedly attempting to defraud insurance companies by reinsuring expensive jewelry that had allegedly been stolen, and for allegedly defrauding his auto insurance company by presenting a false registration address.

Attorney General Martha Coakley's office said that David Fioravanti has been charged with motor vehicle insurance fraud, insurance fraud, larceny over $250, attempted larceny over $250, and making a false statement on a motor vehicle registration.

Fioravanti won $100,000 onf NBC's "The Biggest Loser" show in in 2004. He is due to be arraigned in Suffolk Superior Court Nov. 4.

In March 2008,the attorney general's office began an investigation after the matter had been referred by the Insurance Fraud Bureau of Massachusetts (IFB). In May 2002, Fioravanti purchased an insurance policy from Chubb Insurance Co. to insure $63,000 worth of jewelry that he owned. In February 2003, Fioravanti filed a police report alleging that his apartment was broken into and that all of the insured jewelry was stolen. One of the pieces of jewelry Fioravanti claimed was stolen was his wife's engagement ring. Based upon Fioravanti's police report, Chubb paid the entire $63,000 claim. None of the stolen jewelry was ever reported to be recovered.

Investigators said they also also discovered that in December 2003, Fioravanti purchased another insurance policy from Vermont Mutual Insurance Co. and insured all of the same jewelry he claimed had been stolen from his apartment in February 2003. Authorities allege that Fioravanti also insured the engagement ring he claimed was stolen, yet this time he claimed it was worth $10,000 more than its orginal appraisal amount. When Vermont Mutual learned of the claim Chubb had already paid out to Fioravanti, the insurer cancelled his policy, according to officials.

Investigators said they then discovered that in October 2004, Fioravanti purchased another insurance policy from OneBeacon Insurance Co. and insured the same jewelry he had listed with Vermont Mutual, plus additional items. OneBeacon then referred the matter to the IFB.

During the course of the investigation, investigators said they discovered that Fioravanti also had motor vehicle insurance policies with Arbella Mutual Insurance Co. All of the auto insurance policies issued to Fioravanti listed his mother's address in Marshfield as the address where his car is registered. However, authorities learned that Fioravanti actually lives in Boston and they maintain that he fraudulently registered and insured his automobiles at the Marshfield address. Authorities allege Fioravanti did this in order to pay lower auto insurance premiums.

Source: Mass. Attorney General
Insurance and Unemployment Fraud Division

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What a schmuck.