Ex-Broker and Co-Defendant Receives 20-Year Sentence for Fraudulent ACA Enrollment Scheme
The leaders of a $180 million scheme to sell Affordable Care Act (ACA) insurance plans to homeless individuals and others who did not qualify have been sentenced to 20 years in federal prison, along with full restitution.
Cory Loyd, 47, a licensed insurance broker in Florida and head of FloridaCare Insurance, and Steven Strong, 43, the marketing leader in the scheme, were convicted in November in federal court in Miami. This conviction followed an extensive investigation by a federal health care fraud task force, as announced by the U.S. Attorney for the district.
According to prosecutors, “As proven at trial, Loyd and Strong targeted vulnerable, low-income individuals experiencing homelessness, unemployment, and mental health and substance abuse disorders. Through ‘street marketers’ working on their behalf, they sometimes offered bribes to induce these individuals to enroll in subsidized ACA plans.”
Evidence presented during the trial revealed that Loyd and Strong exchanged text messages in which they boasted about their earnings while belittling the individuals they signed up. In one particular exchange, Strong suggested sending street marketers into hurricane shelters in Florida. Loyd responded, “It’s a killer idea, if we could pull it off! … I want to rake the shelters! R*pe.” Strong replied, “Haha I’m not kidding.”
A third defendant, Dafud Iza, who was formerly the vice president of Fiorella Insurance Agency in Stuart, Florida, pleaded guilty in 2025. He agreed to provide information about his co-defendants and was sentenced in January to three years in prison.
For more details about Iza, click here. To learn more about Loyd and Strong, click here.
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The leaders of a $180 million scheme to sell Affordable Care Act (ACA) insurance plans to homeless individuals and others who did not qualify have been sentenced to 20 years in federal prison, along with full restitution.
Cory Loyd, 47, a licensed insurance broker in Florida and head of FloridaCare Insurance, and Steven Strong, 43, the marketing leader in the scheme, were convicted in November in federal court in Miami. This conviction followed an extensive investigation by a federal health care fraud task force, as announced by the U.S. Attorney for the district.
According to prosecutors, “As proven at trial, Loyd and Strong targeted vulnerable, low-income individuals experiencing homelessness, unemployment, and mental health and substance abuse disorders. Through ‘street marketers’ working on their behalf, they sometimes offered bribes to induce these individuals to enroll in subsidized ACA plans.”
Evidence presented during the trial revealed that Loyd and Strong exchanged text messages in which they boasted about their earnings while belittling the individuals they signed up. In one particular exchange, Strong suggested sending street marketers into hurricane shelters in Florida. Loyd responded, “It’s a killer idea, if we could pull it off! … I want to rake the shelters! R*pe.” Strong replied, “Haha I’m not kidding.”
A third defendant, Dafud Iza, who was formerly the vice president of Fiorella Insurance Agency in Stuart, Florida, pleaded guilty in 2025. He agreed to provide information about his co-defendants and was sentenced in January to three years in prison.
For more details about Iza, click here. To learn more about Loyd and Strong, click here.
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