Updated December 16, 2024 4:37 PM
Instead of turning over an insurance settlement to his Westchester clients as he should have, a Miami area licensed public adjuster kept the $61,282 settlement, a Miami-Dade police arrest report said.
Leading Public Adjusters One President Pedro Iriarte III, 48, was arrested on Dec. 6 on a pair of theft charges. In addition to second degree grand theft, Iriarte’s charged with first degree theft of over $50,000 from an elderly victim because at least one member of the Westchester couple is over 65 years old.
Iriarte was released after posting $10,000 bond. He’ll enter a plea to the above charges at his arraignment, which the online docket says is scheduled for Jan. 6.
Miami-Dade police arrested Iriarte after an investigation by the Florida Department of Financial Services’ Bureau of Forensic Services and Bureau of Insurance Fraud.
State records say Pedro Iriarte’s Leading Public Adjusters One, based out of 4720 SW 74th St., isn’t to be confused with Miami Lakes-based Leading Public Adjusters, run by Julio Iriate, Pedro’s younger brother.
Checks, adjustments and settlements
According to the arrest report, the Westchester couple hired Pedro Iriarte after water damage to their home on Oct. 1, 2022. The insurance company issued two checks this past May for $55,000 and $6,282, both payable to the husband of the couple.
“[Iriarte] sent the checks to the victims’ home so they could endorse the checks and bring them back to [Iriarte], so he could deposit it to his business account, Leading Public Adjusters 1, Inc.,” the arrest report read.
“The two victims did as instructed by [Iriarte] but never received any money.”
The arrest report says JP Morgan Chase bank records show Iriarte deposited the money into the business account on May 31.
“Defendant Pedro Eduardo Iriarte, while in the capacity as a licensed public adjuster in the state of Florida (license No. D064749) did knowingly and unlawfully keep settlement money from the homeowners in the amount of $61,282,” the report closes.
In Miami-Dade Circuit Court, Leading Public Adjusters One faces a 2022 lawsuit by another public adjuster who claims the company owes him $334,526 in unpaid earned wages for work done.
The office of Pedro Iriarte’s Leading Public Adjusters One, 4720 SW 74th Ave. in West Miami-Dade DAVID J. NEAL dneal@miamiherald.com
This story was originally published December 15, 2024, 12:39 PM.
Since 1989, David J. Neal’s domain at the Miami Herald has expanded to include writing about Panthers (NHL and FIU), Dolphins, old school animation, food safety, fraud, naughty lawyers, bad doctors and all manner of breaking news. He drinks coladas whole. He does not work Indianapolis 500 Race Day.