Former N.J. agent allegedly stole $1.9 million for online gambling

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A former insurance agent in New Jersey was indicted for allegedly defrauding nine clients out of more than $1.9 million to feed his online gambling habit.

Daniel J. Trolaro, 34, of Oakland, N.J., was a licensed insurance producer, securities dealer and certified financial planner working for Prudential Insurance Company of America’s West Essex Agency in East Hanover, N.J.

He is accused of committing theft by keeping for his personal use a total of $1,918,000 in money he collected from nine clients between June 4, 2008, and Feb. 12, according to the New Jersey Attorney General’s Office.

He is charged with first-degree financial facilitation of criminal activity (money laundering), eight counts of second-degree theft by failure to make required disposition of property and two counts of third-degree theft by failure to make required disposition of property.

The amounts allegedly stolen from the nine clients ranged from $46,000 to $910,000.  The investigation revealed that he allegedly used the majority of the money for online gambling, officials said.

After discovering the alleged fraud, Prudential fired Trolaro and referred the matter to the New Jersey Office of the Insurance Fraud Prosecutor for further investigation, officials said.

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