NAPLES, Fla. — A Naples man has pleaded guilty to his role in a $2 million fraud ring that targeted car insurance companies.
Wisler Cyrius, 35, is the fourth to enter a guilty plea following the culmination of a two-year joint federal and state law enforcement investigation called Operation Fraudulent Pain. Cyrius and others conspired to solicit people to participate in staged motor vehicle accidents in exchange for compensation.
The crimes have a ripple effect that affect consumer pocketbooks. Fraudulent claims result in the loss of $40 billion each year for insurance companies, the FBI said. That leads to an added $400 to $700 in premium costs each year for the average U.S. family.
Cyrius faces charges of conspiracy to commit mail fraud and conspiracy to commit money laundering. He faces up to 20 years in federal prison for each count. He’s agreed to pay restitution to the insurance companies and forfeit the proceeds of the fraud.