Chief Financial Officer Jimmy Patronis and the Department of Financial Services (DFS) today announced the recent conviction of Ivan Alberto Hernandez-Madrigal (Hernandez) following an in-depth investigation into Hernandez’s attempt to fraudulently provide his company’s clients, which consisted of various construction industry employers, with workers’ compensation insurance in return for a fee. In addition, Hernandez was found to have performed various payroll services for those clients where he withheld and pocketed thousands of dollars in state and federal payroll taxes.