FSCO issues warning of unlicensed insurance activity – Wangro Antoun
The Financial Services Commission of Ontario (FSCO) has issued a warning to consumers that an individual known as Wangro Antoun is not licensed to conduct automobile insurance business in Ontario. Wangro Antoun also goes by the names Yasser Antoun, Yasser Antoun-Debbo, Yaseer Debbo and Mano Faroq.
FSCO stated in a release that “Police have charged this individual with fraud, false pretences, possession of property obtained by crime and uttered forged documents.” The individual had been meeting “clients” in coffee shops and malls and has been accepting cash for arranging false auto insurance coverage. The FSCO added that the individual is not licensed with FSCO or RIBO (Registered Insurance Brokers of Ontario).
If consumers purchase items or insurance from agents or insurers that are not licensed in the province, they are not protected under the Insurance Act and the regulations that govern Ontario’s licensed insurance companies and agents.
An Ontario insurance agent or broker can provide information and advice on the risks involved with purchasing different insurance products.
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