Florida broker admits guilt in $6 million bank fraud case

Ryan K. Buchanan U.S. Attorney | US Attorney's office Northern District of Georgia

Heleonel Gonzalez, a Florida insurance broker, has admitted to bank fraud in connection with a $6 million scheme targeting Peach State Federal Credit Union. U.S. Attorney Ryan K. Buchanan stated, "Gonzalez devised a lucrative scheme cloaked in fraud and deception to steal loan proceeds from Peach State Federal Credit Union for his personal gain." The U.S. Attorney's Office is committed to investigating financial crimes that threaten the integrity of the U.S. financial system.

Sean Burke, Acting Special Agent in Charge of FBI Atlanta, commented on the case: "The FBI works hard to make sure greed like this doesn’t pay off and those who commit fraud are held accountable." He noted that the fraudulent activities caused significant financial harm to a Georgia business.

Court documents reveal that between January 2023 and January 2024, Gonzalez executed a plan to defraud Peach State Federal Credit Union through P1 Finance—a division of the credit union—by misrepresenting loan applications for commercial borrowers such as condominium associations. Gonzalez owned Sharp Insurance Agency, Inc., based in Miami Lakes, Florida.

On multiple occasions, Gonzalez falsely claimed authorization from customers of Sharp Insurance Agency to apply for premium-financing loans on their behalf. He submitted fraudulent Premium Finance Agreements and Disclosure Statements indicating that insurance policies were issued by Citizens Property Insurance Corporation in Jacksonville, Florida. These false representations led Peach State Federal Credit Union to disburse approximately $6 million in loans under false pretenses.

The funds obtained were used by Gonzalez for personal debts and expenses rather than their intended purpose of paying insurance premiums. The credit union would not have approved these loans without Gonzalez’s deceptive claims.

Gonzalez's sentencing is set for February 20, 2025, before U.S. District Judge Steve C. Jones.

The Federal Bureau of Investigation is handling the investigation into this case. Assistant U.S. Attorney John Russell Phillips is leading the prosecution.

For additional details or inquiries, contact the U.S. Attorney’s Public Affairs Office via email at USAGAN.PressEmails@usdoj.gov or phone at (404) 581-6016. More information about the U.S. Attorney’s Office for the Northern District of Georgia can be found at http://www.justice.gov/usao-ndga.