Eduardo L Castilla Eduardo L Castilla, Selene Castilla, Danny Castilla do insurance fraud. Internet

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Eduardo L Castilla, Selene Castilla, Danny Castilla do insurance fraud.  

I met Ed about 2 years ago through a posting on Craigs List. He was looking for an investor who he could work with him doing home remodeling/flipping in Los Angeles. He presented himself as an experienced investor/flipper of real estate properties in Los Angeles and Florida. He said that he had lost numerous properties and cars in these states due to too much leveraging.
 
Our agreement was: I supplied the funds to buy and rehab a property and he supplied the experience to do the flip.
 
Results: he performed well in that he found contractors/workers to perform the work at good prices and I provided all the funds to buy the property with cash and pay all the workers/contractor who did the work.
 
Bottom line: we made a very small profit that we split evenly. No problems. So far, so good.

We decided that flipping real estate was not good during the current economic times.  

Ed decided that he would go back into selling commercial vans and trucksa variation of enterprises that he had done before with his wife.

I was invited to participate with him under the same business conditions that we had for flipping real estate: I provide the funds and he provided the expertise/labor. Ed provided a simple written contract as before.
 
I put into a joint bank account $120,000 with $20,000 to be used for build out expenses for the commercial/industrial space needed (which Ed already leased for $500/mo for a previous remodeling business) and $100,000 to purchase inventoryie the actual vans and trucks that Ed would sell.

Bottom line: Ed immediately started using the inventory money to pay for the building rent, personal restaurant, grocery, gas and airline expenses and other personal expenses (for which he reimbursed the company account for only if I caught them in my review of company expenses). I also caught a large $15,000 (approximately) deposit, then withdrawal to the account and Ed said it was personal funds that did not involve the company. I now believe that it was a commercial vehicle that Ed purchased with company funds and had presold to a client. All profit from that sale were kept by Ed.

Now enters Selene Castilla, wife. She has a car accident midmorning and calls Ed. Ed had the car towed to his business location. Car arrives with major damage to the left front side. Ed say the SUV is covered by Cast Motors Inc insurance coverage but he does not want to have the company responsible for the repairs. Ed then calls his brother Danny who is an independent insurance agent. Ed asks Danny if he can write a policy for the SUV and have it cover the accident. Danny writes the policy and the insurance company covers the damage to the SUV to the tune of about $10,000. That's insurance fraud
 
Are these people you want to do business with?