Heath Ritenour, John Ritenour and Insurance Office of America Facing Alleged Civil Racketeering “RICO” “The IOA Stock Manipulation Scheme"

Heath Ritenour , John Ritenour and Insurance Office of America Facing Allegations of Civil Racketeering “RICO” Schemes Including “The IOA Stock Manipulation Scheme” in Federal Lawsuit - Seeking Information to Allegations

ORLANDO, FLORIDA.?? In a Federal Court Lawsuit pending in the United States District Court for the Middle District of Florida, Case Number: 6:23-cv-00746-RBD-RMN, Defendants Heath Ritenour (“Heath”), Valli Ritenour (“Valli”), John Ritenour (“John”), George Anthony Tatum (“Tatum”), Insurance Office of America (“IOA”), face a variety of Claims including Civil RICO and Conspiracy to Commit the Civil RICO Act.? The pending claim for Civil RICO includes a scheme to defraud Plaintiff Louis Spagnuolo, “other IOA Agents and/or Clients for a period exceeding five years…”?

More specifically, the recently filed Amended Complaint alleges in part: Insurance Office of America Fraudulent Stock Manipulation Scheme involves the artificial boosting of IOA’s stock price through the use of U.S. Mail and interstate wires.”??

The Lawsuit continues to allege: “In 2010, John announced at a corporate meeting the concept that Insurance Office of America would create a system for the purchase and sale of IOA’s private stock.? This system was a scheme whereby Insurance Office of America shareholders leaving IOA through termination or retirement would be replaced by current or new “eligible” IOA employees, administrators, executives and agents who purchase or finance IOA’s stock at the “new” value of the stock. Every year, IOA’s stock is offered to “eligible” IOA employees and agents at a company shareholder meeting at Insurance Office of America Headquarters in Longwood, Florida.

During this meeting, all current and newly eligible shareholders receive a live sales pitch from Heath and other IOA Executives/Board Members which includes the circulation of materials and comparing IOA’s soaring stock price to publicly held insurance brokerages’ (such as Brown & Brown, Inc.) steady growth. Part of the sales pitch is that IOA’s stock is an Insurance Office of America employee, executive or agent’s retirement plan – which Defendant John touts on at least one YouTube video will make ‘many of these individuals millionaires.’”

If you have any information relative to any of the above allegations in the Federal Lawsuit, or as to the character and reputations of John Ritenour, Heath Ritenour or Insurance Office of America, please contact us at [email protected].? You may also contact us at 954-252-9818 and are under no obligation to provide your name or contact information on a confidential basis.?? All communications will remain confidential unless otherwise permitted by federal or state law, rules of procedure, evidence or Court order.? ???

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