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Tag: Analyst Kelly Celenza
Jersey Shore Con Man, 73, Gets Three Years, Son Probation For $4M Insurance Scam
A 73-year-old Asbury Park man was sentenced to three years in state prison while his son got probation for an insurance scam that netted them $4 million, authorities said.
Frank Pescatore, 73, and his son, former life insurance agent Evan Pescatore, 38, of Highlands finagled 18 policies with a combined face value of $61.5 million from eight insurance companies by paying the premiums, state Attorney General Gurbir S. Grewal said Wednesday.
The process of providing applicants and insureds with a no-cost inducement to apply for life insurance policies by paying their premiums is known as “reba…
