The owner of multiple South Bay acupuncture clinics, including one in Mountain View, has pleaded no contest to felony insurance fraud, Santa Clara County prosecutors said.
05/10/21
WorkersCompensation.com
San Jose, CA (WorkersCompensation.com) - Man Tat Szeto, the owner of a large Bay Area construction firm, admitted to committing felony workers compensation insurance fraud after years of firing employees when they requested medical treatment for work-related injuries.
Between 2016 and 2019, Szeto, 71, of San Ramon, avoided approximately $86,000 in premium payments to his insurer by underreporting employees and injuries. To further his scheme, Szeto used the banking system to launder $165,000 to pay employees “off the books.”
Szeto was also charged with unemployment insurance tax fraud and money laundering. Szeto s plea agreement requires that he be placed on five years formal probation, serve nine months in county jail, and make restitution of approximately $250,000.
Owner of Bay Area construction firm admits to fraud, money laundering
Published article
SAN JOSE, Calif. - The owner of a Bay Area construction firm admitted to committing felony workers compensation insurance fraud after years of firing employees when they requested medical treatment for work-related injuries, Santa Clara County prosecutors said.
Man Tat Szeto, 71, of San Ramon, was also charged with unemployment insurance tax fraud and money laundering.
Szeto agreed to a plea deal with the Santa Clara County District Attorney s Office, which announced the agreement Wednesday after a two-year investigation performed in coordination with the California Department of Insurance and the state s Department of Industrial Relations.