MIAMI, Fla. – Chief Financial Officer Jimmy Patronis, who oversees the Department of Financial Services (DFS), today announced the recent arrest of Ysnabi Capote, owner of Sunlight Windows Incorporated, and his business partner, Arnaldo Pena for allegedly orchestrating a workers' compensation premium fraud scheme.  Capote is accused of provided false and misleading information on his application for workers’ compensation in order to lower his premium costs.

Based on the information submitted by Capote to his workers’ compensation insurance provider, which included an estimated annual payroll was $185,200, a workers’ compensation policy was issued to Sunlight Windows Inc. with a premium of $21,448. However, the policy was subsequently canceled shortly thereafter. 

 

During DFS’ investigation, it was discovered that Sunlight Windows Inc. had cashed a total of $881,151 in checks at two money services businesses (MSB) located in Miami-Dade County in a 5-month period in 2014.  According to FUBA Workers Compensation Insurance, If Capote would have provided the accurate information regarding their payroll, FUBA would have charged a premium of $143,716 to cover the payroll expense. As a result, Capote illegally avoided $122,268 in premium payments.

 

Capote then provided false and misleading information again on his application for another workers’ compensation policy with a separate provider September 29, 2014.  Capote indicated that his annual payroll was $164,000.  Based on the information provided, Madison issued a policy to Sunlight Windows Inc. with a premium of $19,426. 

 

During the course of the investigation, it was discovered that Sunlight Windows Inc. cashed an additional $3,018,273 at the same MSB between October 4, 2014 and until the policy was subsequently canceled June 22, 2015. Had the total $3,018,274 in payroll been accurately reported, Sunlight Windows Inc. would have of been charged an additional $482,348 in workers’ compensation premium for an adequate policy. 

 

Upon further investigation, records from the Money Service Bureaus used to cash the checks, revealed that Sunlight Windows Incorporated had both Capote and Pena listed on the account as authorized signature holders.  In total, Capote and Pena cashed numerous checks that totaled $3,899,424 between June 19, 2014 and June 22, 2015.  As a result of Capote and Pena falsely reporting their true payroll amounts they were able to illegally avoid having to pay a total of $607,126.94 in premium payments.

 

Capote was arrested October 17, 2017, by DIFS investigators without incident and later transported to Miami-Dade County Jail. October 18, 2017, Pena was arrested at the Turner Guilford Knight Correctional Center without incident.  Both have been charged with workers’ compensation premium fraud, grand theft, organized scheme to defraud, and conspiracy to commit premium fraud.

 

This case will be prosecuted by Dominque Atchison with the Miami-Dade State Attorney's Office, Eleventh Judicial Circuit. If convicted, Capote and Pena could face up to 30 years in prison with a bond set for $70,000.