Marshall Stephen Perlman, OWNER of Claimstar Inc. Public Adjusting Firm arrested for stealing close to $700,000 of his clients insurance settlements. NORRISTOWN – A Main Line public adjuster has admitted to pocketing nearly $700,000 in insurance proceeds that he owed to numerous claimants, some of whom incurred damages to their homes or businesses during Hurricane Sandy. Marshall Stephen Perlman, 71, of the 2600 block of Naudain Street, Philadelphia, pleaded guilty in Montgomery County Court on Friday to charges of insurance fraud, theft by failure to make required disposition of funds received, theft by deception, forgery, identity theft and deceptive business practices in connection with thefts, totaling about $698,000, that occurred between 2010 and 2013 while he did business as Claimstar Inc. “He represented 32 individuals and received proceeds from insurance companies that were due those individuals and kept those proceeds for himself,” said Assistant District Attorney Christopher Daniels, explaining the nature of the scheme to keep other people’s money. Perlman, whose office was located along Belmont Avenue, as a licensed public adjuster, assisted home and business owners in resolving insurance claims. “Thirty-two different entities entrusted Mr. Perlman with their claims with their insurance companies for a loss either at their homes or their businesses. A number of these victims had suffered their loss during Hurricane Sandy. Many of our victims’ homes and businesses are still in the same state of affairs they were in when the actual claims took place, which goes back as far as 2010,” Daniels said. Judge William R. Carpenter deferred sentencing so that court officials can complete a background investigative report about Perlman, who remains free on bail pending sentencing. Perlman, who is represented by defense lawyer Frank DeSimone, indicated he wants to begin paying restitution to the victims. Daniels said he will seek jail time against Perlman, arguing Perlman broke the trust of his clients. “There are homeowners who still have holes in their roofs and areas that can’t be fixed. Every one of these victims has a story that is gut-wrenching. Some of them are elderly. Some of them have had to move into temporary housing while they continue to get their own homes fixed,” said Daniels, adding two of the victims are churches, one of which still has a leak in the roof because it never received the insurance proceeds it was due from Perlman to fix the leak. “Our victims are still upset about this and hoping to one day be paid back,” Daniels added. Some of the victims also have pending civil claims filed against Perlman, whose public adjuster business has been shuttered and whose license has been suspended. Perlman, prosecutors alleged, used the money he embezzled to live a lavish lifestyle, including purchasing a beach-front condominium, making renovations to it and taking a luxury European vacation. “We believe it was that he was living over his means,” Daniels said. Between September 2010 and November 2013, Perlman successfully resolved nearly three dozen separate claims, each resulting in a monetary settlement. Ten of the payments represented compensation for damages caused by Hurricane Sandy in October 2012, according to court documents. Instead of forwarding insurance settlement monies to his clients as required, Perlman unlawfully retained the monies, sometimes forging his clients’ signatures so that he could deposit the settlement checks in his personal bank accounts. The victims, from Pennsylvania, New Jersey and New York, included religious institutions, homeowners and businesses, according to court papers. The victims who suffered damages to their properties submitted insurance claims and hired Perlman as the public adjuster to facilitate the payment of the claims, authorities said. Perlman, authorities alleged, would make excuses to the claimants by maintaining insurance companies were delayed in making payments. The initial investigation of Perlman began in August 2012, when a Claimstar customer from New Jersey reported to authorities that Perlman forwarded less than half of a $743,000 settlement to the claimant, according to the criminal complaint filed by county Detective Dirk Boughter. Perlman was charged for that theft in November 2012 and in July 2013 Perlman pleaded guilty to a theft-related charge, paid full restitution and was sentenced to two years’ probation, according to court documents. However, between Perlman’s November 2012 arrest and July 2013 sentencing, additional complaints were received by authorities, who launched a new investigation of Perlman’s business practices, resulting in the latest charges. Several former employees of Perlman, including three executives, were interviewed during the latest investigation and each confirmed that Perlman controlled all of the money coming in and out of Claimstar, Boughter alleged. “They revealed that in response to customer complaints about delayed disbursements, Perlman would state, ‘It’s my money and I’ll decide when people get paid,’” Boughter alleged. The investigation revealed that during 2011 to 2013, when the thefts occurred, Perlman acquired a beach-front condominium in Atlantic City, N.J., valued at $500,000, and “bragged about an additional $250,000 in renovations to the condominium,” according to the arrest affidavit. “Also during the same time period, Perlman and his wife took a two week vacation to Italy,” Boughter alleged in the criminal complaint. Perlman is the only person charged in connection with the fraud scheme.
Posted on: Sat, 15 Nov 2014 01:54:09 +0000
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