Insurance Company Owners Charged with Fraud
| U.S. Attorney’s Office November 03, 2011 |
Bruce Gardner, Michael Gardner, and Irene Gardner were charged today by indictment with 13 counts of wire fraud, mail fraud, and conspiracy to commit wire and mail fraud, announced United States Attorney Zane David Memeger. The charges arise out of the defendants ownership and operation of Gardner Financial Services, Inc., an insurance brokerage agency in Philadelphia and Southampton, Pennsylvania. The indictment charges that defendants Bruce Gardner and Michael Gardner used the agency to defraud clients, insurance companies, and finance companies. Later, when the Pennsylvania Insurance Commission discovered the fraud and threatened to revoke the company’s license, defendants Bruce Gardner, Michael Gardner, and Irene Gardner inflated the sales price of the company by misrepresenting the numbers of clients and policies.
Information Regarding the Defendants
| Name |
Address |
Year of Birth |
| Bruce Gardner | Richboro, PA | 1951 |
| Michael Gardner | Philadelphia, PA | 1958 |
| Irene Gardner | Richboro, PA | 1952 |
If convicted, Bruce Gardner and Michael Gardner face a maximum sentence of 230 years’ imprisonment, a three-year term of supervised release, a $3,250,000 fine, and a $1,300 special assessment. If convicted, Irene Gardner faces a maximum sentence of 45 years’ imprisonment, a three-year term of supervised release, a $750,000 fine, and a $300 special assessment.
The case was investigated by the United States Postal Inspection Service and the Federal Bureau of Investigation, and is being prosecuted by Assistant United States Attorney Paul G. Shapiro.
An indictment or information is an accusation. A defendant is presumed innocent unless and until proven guilty.