Suspect Convicted, Sentenced, and Ordered to Pay Over $700,000 Restitution in DIFI Fraud Case

Following an Arizona Department of Insurance and Financial Institutions’ (DIFI) Fraud Unit investigation and prosecution by the Arizona Attorney General’s Office, Cynthia A. Martin was sentenced to prison on January 8, 2021 for 1.5 years on two counts of attempt to commit aggravated taking identity from a person/entity, a class 4 felony and one count of attempt to commit theft, a class 5 felony. Martin also was ordered to pay restitution for economic loss to all the victims in the amount of $786,904.77.

Martin, along with her husband and co-conspirator, David Martin, each were convicted of felony charges arising from events that occurred in 2013 and 2014.  The Martins fled to Mexico upon indictment but were arrested in 2018 upon re-entering the United States.

While owning Executive Professional Insurance Consultants (EPIC) in Glendale, Arizona, the Martins used the identities of several businesses without consent to submit applications to finance fictitious commercial liability policies.  The Martins received money from commercial lenders for the purpose of paying the premiums and spent the money for their own benefit. The Martins also misappropriated funds paid by insurance consumers intended to be applied towards insurance premiums.

Consumers are reminded that in most instances, premium checks should be written only to insurance companies and not insurance agents.  Consumers also should expect to receive a copy of the insurance policy within 30 days from the insurance company.  Consumers not receiving a copy of the policy within the time frame should immediately call the insurance company, not the agent, to ensure the policy was issued.

The DIFI Fraud Unit investigates allegations of fraud to protect insurance consumers and the insurance industry.  Combating fraud helps keep insurance premiums as low as possible for consumers.   According to the Coalition Against Insurance Fraud (CAIF), insurance fraud results in at least $80 billion in thefts every year from the American consumer.  To learn more, visit https://insurancefraud.org/. To learn more about DIFI or to file a complaint, visit https://difi.az.gov/contact-us.

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