JAY TRISKO

Every Saint has a past....Every Sinner has a future"

Just a poor boy from Minnesota trying to make it in this world. A devoted father, husband, warrior, and survivor.  Writing & sharing about the myths, the legends, and transformations of my journey through this life.

 
 
  • Jay Trisko

The story of what really happened to Jay Trisko after being arrested for insurance fraud.

Updated: Oct 11, 2019

and why you shouldn't believe everything you read.

For starters, I want to be clear that I have accepted my role and punishment for what transpired in 2009-2011. This is by no means me justifying or minimizing the situation that occurred.


Some facts and timeline of events:


  • I was a partner in an insurance brokerage from 2009-2012.

  • We did roughly 2million dollars a year in business.

  • We had over 250 clients. 8 of which filed complaints with the DOI/DA.

  • My ex business partner committed serious misappropriation of funds.

  • I was made aware of the misappropriation of funds and went to the DOI (Department of Insurance) and my personal attorney.

  • The DOI attempted to speak to me on many occasions

  • I was advised by my attorney to do nothing and say nothing, which I did for 3 years.

  • The investigation lasted over 3 years long.

  • 4 days prior to the statute of limitations running up I was advised that charges were being filed against my business partner and myself. (Needless to say I received very poor legal advice)

  • After an arrangement was made with my attorney and the DA, I turned myself in 3 days later

  • After 16 days in jail, my bail was finally reduced to $250,000 which was the maximum our family could afford.

  • MIssapropriated funds means in insurance terms that as insruance brokers we gave an oath to hold a fiduciary responsibility of other peoples money. My brokerage accepted insurance premiums, taxes, and broker fees as part of doing business. instead of all of the premium submitted, only a portion of it was given to the insurance company.

  • My partner who was the CFO, would retain the broker fees as he was supposed to have done, but was only sending 25-75% of the premium forward to the insurance companies.

  • All policies were paid. Some were only paid 50%. The complexity of what was paid for and what was not was and still is today difficult for me to comprehend fully.

  • What I learned of what was happening in the simplest of terms is that a portion of insurance premiums went to insurance company while others were going to business expenses such as payroll for employees, office rent, etc.

  • NONE of the insurance premiums were personally pocketed

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