Scam insurance broker claims he is the ‘victim’ after duping businesses out of $100k

A fake insurance broker who scammed small businesses out of $100k by selling them invalid policies has told a court he was wrongly convicted.

Samuel Tessa was found guilty of fraud offences after selling unwitting businesses invalid insurance policies. Picture: Facebook

A fake insurance broker who scammed unwitting small businesses out of nearly $100,000 by selling them invalid policies has claimed he is the real “victim”.

Samuel Tessa, 55, faced the County Court on Thursday after a jury in December found him guilty of five counts of obtaining property by deception and two counts of obtaining a financial advantage by deception.

From 2011 to 2017, Tessa “dishonestly represented” himself as an insurance broker while he operated his company, Review Financial Services.

Prosecutor Jim Shaw told Judge Felicity Hampel he “exploited” his five victims, who were all looking for low-cost insurance as small businesses in the car repair industry.

One Dandenong business was duped into paying Tessa $30,000 after the fraudster told the owner the money would provide him with insurance coverage.

Elwood man Samuel Tessa.

The owner of another Dandenong business – who was swindled out of more than $40,000 – said he feels “anxiety and shame” for wrongly telling his clients he was insured.

“When Mr Tessa lied to me, he made me a liar,” he wrote in a victim impact statement.

“How do I hold my head up as a man of honour?”

An investigation by the Australian Securities and Investments Commission (ASIC) – which led to Tessa’s arrest in December 2017 – revealed the Elwood man never held an Australian financial services licence to conduct an insurance-related business.

His business was also not appropriately authorised, which meant his victims did not hold genuine insurance coverage despite having paid premiums to Tessa.

“This offending was not sporadic,” Mr Shaw said. 

“It was systematic, continuous and ongoing.”

But Tessa, who represented himself, told the court he believed he was wrongly convicted because he was “practising legally”.

“I have done nothing wrong and I have looked after (my) clients,” he said.

“The court needs to understand that I am the victim here.

“It is ASIC who made me a liar and they continue to do so.”

Judge Hampel told him he could only appeal his conviction in the Court of Appeal because she had no power to overturn the jury’s verdict.

Mr Shaw told the court Tessa, who he described as having a “no remorse”, should be sentenced to a term of imprisonment to deter him from any future “sophisticated” offending of the same nature.

But Tessa said he should not be thrown behind bars because he is a carer for his elderly mum and financially provides for his 22-year-old son.

The court heard compensation orders could be made to force Tessa to pay back his victims who were still out of pocket, but the swindler argued he should not have to pay anyone back.

“All of them knew the premiums they paid were non-refundable,” he said.

“So what compensation are we talking about?

“The service has been provided, the work has been done, the insurance has been provided.”

Tessa’s bail was extended.

He will be sentenced on March 30.