Charges Dismissed for Florida Contractor Dubbed ‘Poster Boy’ in Insurance Fraud Case

In May 2023, a circuit court judge in Lee County, Florida, delivered a scathing critique of a restoration contractor, Ricky McGraw, accusing him of hiding the actual costs associated with condominium roof repairs in an assignment-of-benefits claim involving Tower Hill insurance.

Just six months later, the Florida Department of Financial Services, alongside local prosecutors, filed criminal fraud charges against McGraw, who operates South Florida Restoration Services. He faced allegations of insurance fraud and grand theft. At that time, Florida’s chief financial officer, Jimmy Patronis—now a Congressman—described the alleged fraud as “despicable,” linking it to the rising insurance premiums plaguing the state.

However, just last week, the McGraw case was unexpectedly dismissed just before it was set to go to trial. This decision has left many property insurance carriers and their advocates feeling frustrated, as McGraw had been labeled the “poster boy” for dubious claim amounts and numerous assignment-of-benefits lawsuits against insurers.

A nolle prosequi court filing dated January 26 by Lee County Assistant State Attorney John Humphreville did not clarify the reasons behind the dismissal after two years of extensive evidence gathering and numerous court filings. A spokesperson for the prosecutor’s office cited a lack of evidence as the reason for dropping the charges, according to a local news report.

Insurance representatives in Florida opted not to comment due to ongoing civil suits involving McGraw and his company, SFR. Tower Hill officials were unavailable for comment, but some industry insiders speculated that key witnesses from the condominium association may no longer be available to testify.

“The criminal case is over for lack of evidence. Enough said,” McGraw stated in an email to Insurance Journal. “The witch hunt is over.” He further expressed to the Tampa Bay Times that the prosecution had severely impacted his construction business.

“Two and a half years of my life has essentially put my company in the dumps, and they don’t even send out an apology letter,” McGraw told the Times.

If McGraw’s claims about his company’s financial struggles are accurate, this could provide some solace to Florida property insurers. It may also be viewed as a victory against contractors who allegedly exploited the state’s assignment-of-benefits law during the 2010s and early 2020s. This law was repealed in late 2022, along with one-way attorney fees. Insurance groups and regulators have credited these changes, along with 2023 tort-reform measures, with reducing fraudulent claims and excessive litigation, thereby revitalizing a distressed Florida insurance market.

Nonetheless, litigation continues to unfold in the courts, including several lawsuits filed against McGraw and SFR. For instance, in Martin County, Tower Hill’s group of insurance companies filed civil lawsuits against SFR Services in early 2025, alleging that the company misled homeowners after Hurricane Irma to secure assignments of benefits.

According to one Tower Hill lawsuit complaint, SFR employed “bait and switch tactics,” promising homeowners roof replacements regardless of whether their insurance claims were approved. Allegations state that a salesman for SFR confirmed that the company never intended to fulfill these promises.

This case is still ongoing in Martin County, although SFR salesman Will Mynatt recently agreed to a settlement, as per court records. The Florida Department of Business and Professional Regulation indicates that SFR’s license remains active, set to expire in August.

Read More About Ricky McGraw and SFR: Florida Judge Slams SFR Contractor for Misrepresentation, Fraud in Tower Hill Case
Florida Authorities Charge 4 in Fraudulent Roof Claims, Issue Warrant for Contractor

Top photo: Homes in Estero, part of Fort Myers, near the condominiums at issue in the McGraw fraud case. (AdobeStock)

Topics
Florida
Fraud
Contractors

In May 2023, a circuit court judge in Lee County, Florida, delivered a scathing critique of a restoration contractor, Ricky McGraw, accusing him of hiding the actual costs associated with condominium roof repairs in an assignment-of-benefits claim involving Tower Hill insurance.

Just six months later, the Florida Department of Financial Services, alongside local prosecutors, filed criminal fraud charges against McGraw, who operates South Florida Restoration Services. He faced allegations of insurance fraud and grand theft. At that time, Florida’s chief financial officer, Jimmy Patronis—now a Congressman—described the alleged fraud as “despicable,” linking it to the rising insurance premiums plaguing the state.

However, just last week, the McGraw case was unexpectedly dismissed just before it was set to go to trial. This decision has left many property insurance carriers and their advocates feeling frustrated, as McGraw had been labeled the “poster boy” for dubious claim amounts and numerous assignment-of-benefits lawsuits against insurers.

A nolle prosequi court filing dated January 26 by Lee County Assistant State Attorney John Humphreville did not clarify the reasons behind the dismissal after two years of extensive evidence gathering and numerous court filings. A spokesperson for the prosecutor’s office cited a lack of evidence as the reason for dropping the charges, according to a local news report.

Insurance representatives in Florida opted not to comment due to ongoing civil suits involving McGraw and his company, SFR. Tower Hill officials were unavailable for comment, but some industry insiders speculated that key witnesses from the condominium association may no longer be available to testify.

“The criminal case is over for lack of evidence. Enough said,” McGraw stated in an email to Insurance Journal. “The witch hunt is over.” He further expressed to the Tampa Bay Times that the prosecution had severely impacted his construction business.

“Two and a half years of my life has essentially put my company in the dumps, and they don’t even send out an apology letter,” McGraw told the Times.

If McGraw’s claims about his company’s financial struggles are accurate, this could provide some solace to Florida property insurers. It may also be viewed as a victory against contractors who allegedly exploited the state’s assignment-of-benefits law during the 2010s and early 2020s. This law was repealed in late 2022, along with one-way attorney fees. Insurance groups and regulators have credited these changes, along with 2023 tort-reform measures, with reducing fraudulent claims and excessive litigation, thereby revitalizing a distressed Florida insurance market.

Nonetheless, litigation continues to unfold in the courts, including several lawsuits filed against McGraw and SFR. For instance, in Martin County, Tower Hill’s group of insurance companies filed civil lawsuits against SFR Services in early 2025, alleging that the company misled homeowners after Hurricane Irma to secure assignments of benefits.

According to one Tower Hill lawsuit complaint, SFR employed “bait and switch tactics,” promising homeowners roof replacements regardless of whether their insurance claims were approved. Allegations state that a salesman for SFR confirmed that the company never intended to fulfill these promises.

This case is still ongoing in Martin County, although SFR salesman Will Mynatt recently agreed to a settlement, as per court records. The Florida Department of Business and Professional Regulation indicates that SFR’s license remains active, set to expire in August.

Read More About Ricky McGraw and SFR: Florida Judge Slams SFR Contractor for Misrepresentation, Fraud in Tower Hill Case
Florida Authorities Charge 4 in Fraudulent Roof Claims, Issue Warrant for Contractor

Top photo: Homes in Estero, part of Fort Myers, near the condominiums at issue in the McGraw fraud case. (AdobeStock)

Topics
Florida
Fraud
Contractors