—f FILED SEP 38 2009 REPRESENTING ALEX SINK Docketed by_s S CHIEF FINANCIAL OFFICER STATE OF FLORIDA (4-6 Tbe PL IN THE MATTER OF: ° wo QP DQ «ey ase 8 CASE NO.: 1060749%AG wo [7 RUPA H, MEHTA 25 . (Tl = / = 2 a ADMINISTRATIVE COMPLAINT RUPA H. MEHTA ‘ 5423 Twin Creeks Drive Valrico, FL 33954 You, RUPA H. MEHTA, license LD. # E057742, are hereby notified that the Chief Financial Officer of the State of Florida has caused to be made an investigation of your activities while licensed as an insurance agent in this state, as a result of which it is alleged: GENERAL ALLEGATIONS 1, Pursuant to Chapter 626, Florida Statutes, you, RUPA H. MEHTA, are currently licensed in this state as a life, health and variable annuity agent. 2, At all times pertinent to the dates and occurrences referred to herein, you, RUPA H. MEHTA, were licensed in this state as a life, health and variable annuity agent. 3, Pursuant to Chapter 626, Florida Statutes, the Florida Department of Financial Services (“Department”) has jurisdiction over your insurance licenses and appointments. COUNT I 4. The above general allegations are hereby realleged and fully incorporated herein by reference. 5, On or around March 5, 2007, you, RUPA H. MEHTA, met with B.U. of Land O’Lakes, Florida. 6. On or around March 5, 2007, you, RUPA H. MEHTA, sold B.U. a life insurance policy (“Policy”) with New York Life Insurance Company (“New York Life”), 7. You, RUPA H. MEHTA, had B.U. sign a blank application. 8. B.U. wanted her son, Suhail Zaidi, listed as the sole beneficiary on the Policy. 9. B.U, told you, RUPA H. MEHTA, that she wanted her son, Suhail Zaidi, listed as the sole beneficiary on the Policy, 10. You RUPA H. MEHTA, knew that B.U. wanted her son, Suhail Zaidi, listed as the sole beneficiary on the Policy. 11, __B.U.’s application did not list Suhail Zaidi as the sole beneficiary. 12, B.U.’s application listed Dipika Akruwala as the sole beneficiary. 13. Dipika Akruwala was listed on B.U.’s application as B.U.’s cousin. 14. B.U. did not know that her application listed Dipika Akruwala as the sole beneficiary. 15. B.U. did not know that Dipika Akruwala was listed on her application as her cousin. 16. Dipika Akruwala is not B.U.’s cousin. 17. You, RUPA H. MEHTA, are friends with Dipika Akruwala. 18. You, RUPA H. MEHTA, knew that B.U.’s application listed Dipika Akruwala as the sole beneficiary. 19, You, RUPA H. MEHTA, listed Dipika Akruwala, or allowed Dipika Akruwala to be listed, as the sole beneficiary on the application. 20, You, RUPA H, MEHTA, did not have B.U.’s authority or approval to list, or have — listed, Dipika Akruwala as the sole beneficiary on B.U.’s application. 21. | When the Policy was issued, Dipika Akruwala was listed as the sole beneficiary on the Policy. 22. You, RUPA H. MEHTA, earned an $11,605.00 commission on the sale of the Policy. IT IS THEREFORE CHARGED that you, RUPA H. MEHTA, have violated or are accountable under one or more of the following provisions of the Florida Statutes or Florida Administrative Code, which constitute grounds for the suspension or revocation of your licenses as a Florida insurance agent: (a) Demonstrated lack of fitness or trustworthiness to engage in the business of insurance. [Section 626.611(7), Florida Statutes]; (b) Demonstrated lack of reasonably adequate knowledge and technical competence to engage in the transactions authorized by the license or appointment. [Section 626.611(8), Florida Statutes]; (c) Violation of any lawful order or rule of the department. [Section 626.621(3), Florida Statutes); (d) In the conduct of business under the license or appointment, engaging in unfair methods of competition or in unfair or deceptive acts or practices, as prohibited under part IX of this chapter, or having otherwise shown himself or herself to be a source of loss to the public. [Section 626.621(6), Florida Statutes); (e) If a life agent, violation of the code of ethics. [Section 626,621(9), Florida Statutes]; | (f) The Business of Life Insurance is hereby declared to be a public trust in which service all agents of all companies have a common obligation to work together in serving the best interests of the insuring public, by understanding and observing the laws governing Life Insurance in letter and in spirit by presenting accurately and completely every fact essential to a client’s decision, and by being fair in all relations with colleagues and competitors always placing the policyholder’s interests first. [Rule 69B-215,210, Florida Administrative Code]; (g) No person shall make, issue, circulate, or cause to be made, issued, or circulated, any estimate, circular, or statement misrepresenting the terms of any policy issued or to be issued or the benefits or advantages promised thereby or the dividends or share of the surplus to be received thereon, or make any false or misleading statement as to the dividends or share of surplus previously paid on similar policies, or make any misleading representation or any misrepresentation as to the financial condition of any insurer, or as to the legal reserve system upon which any life insurer operates, or use any name or title of any policy or class of policies misrepresenting the true nature thereof. [Rule 69B-215.230(1), Florida Administrative Code]; and (h) —‘ Misrepresentations in insurance applications.-- Knowingly making a false or fraudulent written or oral statement ‘or representation on, or relative to, an application or negotiation for an insurance policy for the purpose of obtaining a fee, commission, money, or other benefit from any insurer, agent, broker, or individual. [Section 626.9541(1)(k)1, Florida Statutes]. COUNT II 23. The above. general allegations and paragraphs 4 through 22 are hereby realleged and fully incorporated herein by reference. 24, On or around September 4, 2007, B.U. cancelled the Policy that she bought from you, RUPA H. MEHTA. 25, On or around September 4, 2007, B.U. ceased paying on the Policy that she bought from you, RUPA H. MEHTA. 26. On or around September 14, 2007, a Check-O-Matic Request Form (“Request Form”) was submitted to New York Life, requesting that payment continue on B.U.’s Policy. 27. The Request Form rescinded the cancellation of B.U.’s Policy. 28. The Request Form requested that payments for B.U.’s Policy be paid from a bank account at Bank of America. 29. At the time, B.U. did not have a bank account with Bank of America. 30. The bank account listed on the Request Form belonged to you, RUPA H, MEHTA. 31. You, RUPA H. MEHTA, signed B.U.’s name to the Request Form or allowed B.U.’s name to be signed to the Request Form. 32, You, RUPA H, MEHTA, did not have B.U.’s authority or approval to sign her name, or allow B.U.’s name to be signed, to the Request Form. 33, ‘BU. did not know that you, RUPA H. MEHTA, signed her name to the Request Form or allowed her name to be signed to the Request Form. 34. You, RUPA H. MEHTA, filed the Request Form, or allowed the Request Form to be filed, with New York Life. 35. You, RUPA H. MEHTA, did not have B.U.’s authority or approval to file the _ Request Form, or allow the Request Form to be filed, with New York Life. 36. B.U. did not know that you, RUPA H. MEHTA, filed the Request Form, or allowed the Request Form to be filed, with New York Life, 37. Even though the life insurance policy was cancelled, you, RUPA H. MEHTA, earned $11,605.00 on the sale of the life insurance policy to B.U. IT IS THEREFORE CHARGED that you, RUPA H. MEHTA, have violated or are accountable under one or more of the following provisions of the Florida Statutes or Florida Administrative Code, which constitute grounds for the suspension or revocation of your licenses as a Florida insurance agent: ‘(b) Demonstrated lack of fitness or trustworthiness to engage in the business of insurance. [Section 626.611(7), Florida Statutes]; ) (b) Demonstrated lack of reasonably adequate knowledge and technical competence to engage in the transactions authorized by the license or appointment. [Section 626.611(8), Florida Statutes]; (c) Violation of any lawful order or rule of the department. [Section 626.621(3), Florida Statutes]; (d) In the conduct of business under the license or appointment, engaging in unfair methods of competition or in unfair or deceptive acts or practices, as prohibited under part IX of this chapter, or having otherwise shown himself or herself to be a source of Joss to the public. [Section 626.621(6), Florida Statutes]; {e) If a life agent, violation of the code of ethics. [Section 626.621(9), Florida Statutes]; (f) The Business of Life Insurance is hereby declared to be a public trust in which service all agents of all companies have a common obligation to work together in serving the best interests of the insuring public, by understanding and observing the laws governing Life Insurance in letter and in spirit by presenting accurately and completely every fact essential to a client’s decision, and by being fair in all relations with colleagues and competitors always placing the policyholder’s interests first. [Rule 69B-215.210, Florida Administrative Code]; (g) No person shall make, issue, circulate, or cause to be made, issued, or circulated, any estimate, circular, or statement misrepresenting the terms of any policy issued or to be issued or the benefits or advantages promised thereby or the dividends or share of the surplus to be received thereon, or make any false or misleading statement as to the dividends or share of surplus previously paid on similar policies, or make any misleading representation or any misrepresentation as to the financial condition of any insurer, or as to the legal reserve system upon which any life insurer operates, or use any name or title of any policy or class of policies misrepresenting the true nature thereof. [Rule 69B-215.230(1), Florida Administrative Code]; (h) Misrepresentations in insurance applications.-- Knowingly making a false or fraudulent written or oral statement or representation on, or relative to, an application or negotiation for an insurance policy for the purpose of obtaining a fee, commission, money, or other benefit from any insurer, agent, broker, or individual. [Section 626.9541(1)()1, Florida Statutes]; and (i) Fraudulent signatures on an application or policy-related document.-- Willfully submitting to an insurer on behalf of a consumer an insurance application or policy-related document bearing a false or fraudulent signature. [Section 626.9541( 1)(ee), Florida Statutes]. WHEREFORE, you, RUPA H. MEHTA, are hereby notified that the Chief Financial Officer intends to enter an Order suspending or revoking your licenses and appointments as an insurance agent or to impose such penalties as may be provided under the provisions of Sections 626.611, 626.621, 626.681, 626.691, and 626.9521, Florida Statutes, and under the other referenced sections of the Florida Statutes as set out in this Administrative Complaint. NOTICE OF RIGHTS You have the right to request a proceeding to contest this action by the Department pursuant to Sections 120.569 and 120.57, Florida Statutes, and Rule 28-106, Florida Administrative Code. The proceeding request must be in writing, signed by you, and must be filed with the Department within twenty-one (21) days of your receipt of this notice. Completion of the attached Election of Proceeding form and/or a petition for administrative hearing will suffice as a written request. The request must be filed with Tracey Beal, DFS Agency Clerk, at the Florida Department of Financial Services, 612 Larson Building, 200 East Gaines Street, Tallahassee, Florida 32399-0390. Your written response must be received by the Department no later than 5:00 p.m. on the twenty-first day after your receipt of this notice. Mailing the response on the twenty-first day will not preserve your right to a hearing. YOUR FAILURE TO RESPOND IN WRITING WITHIN TWENTY-ONE (21) DAYS OF YOUR RECEIPT OF THIS NOTICE WILL CONSTITUTE A WAIVER OF YOUR RIGHT TO REQUEST A PROCEEDING ON THE MATTERS ALLEGED HEREIN AND AN ORDER OF SUSPENSION OR REVOCATION WILL BE ENTERED AGAINST YOU, If you request a proceeding, you must provide information that complies with the requirements of Rule 28-106.2015, Florida Administrative Code. As noted above, completion of the attached Election of Proceeding form conforms to these requirements. Specifically, your response must contain: (a) The name, address, and telephone number, and facsimile number (if any) of the respondent (for the purpose of requesting a hearing in this matter, you are the "respondent". (b) The name, address, telephone number, facsimile number of the attorney or qualified representative of the respondent (if any) upon whom service of pleadings and other papers shall be made. (c) A statement requesting an administrative hearing identifying those material facts that are in dispute. If there are none, the petition must so indicate. (d) A statement of when the respondent received notice of the administrative complaint. (e) A statement including the file number of the administrative complaint. If a hearing of any type is requested, you have the right to be represented by counsel or other qualified representative at your expense, to present evidence and argument, to call and cross-examine witnesses, and to compel the attendance of witnesses and the production of documents by subpoena. If a proceeding is requested and there is no dispute of material fact, the provisions of Section 120.57(2), Florida Statutes, apply. In this regard, you may submit oral or written evidence in opposition to the action taken by the Department or a written statement challenging the grounds upon which the Department has relied. While a hearing is normally not required in the absence of a dispute of fact, if you feel that a hearing is necessary, one will be conducted in Tallahassee, Florida, or by telephonic conference call upon your request. However, if you dispute material facts which are the basis for the Department’s action, you must request an adversarial proceeding pursuant to Sections 120.569 and 120.57(1), Florida Statutes, These proceedings are held before a State Administrative Law Judge of the Division of Administrative Hearings. Unless the majority of witnesses are located elsewhere, the Department will request that the hearing be conducted in Tallahassee, Florida. Failure to follow the procedure outlined with regard to your response to this notice may result in the request being denied. All prior oral communication or correspondence in this matter shall be considered freeform agency action, and no such oral communication or correspondence shall operate as a valid request for an administrative proceeding, Any request for an administrative proceeding received prior to the date of this notice shall be deemed abandoned unless timely renewed in compliance with the guidelines as set out above. Mediation of this matter pursuant to Section 120.573, Florida Statutes, is not available. No Department attorney will discuss this matter with you until the response has been received by the Department. DATED and SIGNED sc Blcud ypteabers 2009. ae UNM y CY . weed —>— es or TAMMY TESTON Deputy Chief Financial Officer 10 CERTIFICATE OF SERVICE COMPLAINT and ELECTION OF PROCEEDING has been furnished#o: RUPA H. MEHTA, at I HEREBY CERTIFY that a true and correct copy of the a ADMINISTRATIVE 5 ‘win Creeks Drive, Valrico, FL 33954, by Certified Mail thi , 2009, 11 day of Robert Alan Fox Senior Attorney Department of Financial Services Division of Legal Services 612 Larson Building 200 East Gaines Street Tallahassee, Florida 32399-0333 (850) 413-4106

Docket for Case No: 09-006716PL