South Florida construction company owner arrested on fraud and grand theft charges
A Weston construction company owner reported less than 5% of his payroll to lessen the workers’ compensation premiums his company would pay, state financial investigators allege.
Everardo Borettini, 71, was arrested Friday on charges of workers’ compensation fraud, organized scheme to defraud, first-degree grand theft and organized scheme to defraud over $50,000. Borettini entered a not guilty plea Monday.
“I look forward to a quick and favorable resolution for my client,” Borettini’s attorney Andy Rier said Wednesday.
According to Florida Chief Financial Officer Jimmy Patronis’ office, Borettini reported EFC Construction Corporation’s income as $68,648 during a workers’ compensation insurance policy period. Investigators say EFC’s actual payroll was $1.5 million. Reporting only 4.6% of EFC’s actual payroll, the state says, allowed Borettini to fraudulently escape $95,000 in workers’ comp premiums.
Coincidentally, Borettini’s bond was set at $95,000. He posted bail Friday, the same day the state administratively dissolved Borettini-connected companies 954 Construction, E&E Multiservices and ADG Sunshine for not filing an annual report with the state.
The state also administratively dissolved EFC Construction on Sept. 28, 2018, for the same reason. The state of Florida does this housecleaning on each September’s fourth Friday.
Florida statute 617.1421(3) explains, “A corporation administratively dissolved continues its corporate existence but may not conduct any affairs except that necessary to wind up and liquidate its affairs...and adopt a plan of distribution of assets.”
Insurance fraud can be reported at FraudFreeFlorida.com.
This story was originally published September 30, 2020 at 11:36 AM.
