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Vestal Man Pleads Not Guilty To Insurance Fraud In Case Of Missing Diamond Ring

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BROOME COUNTY, N.Y. -

A Vestal man accused of faking the disappearance of a diamond ring to collect insurance money has pleaded not guilty to the charges of grand larceny and insurance fraud. 

Michael Pinco was arrested in October 2018 after an investigation by the New York State Department of Financial Services Criminal Investigation Unit. A felony complaint filed alleges Pinco falsely reported a diamond ring and setting missing in 2016 and collected more than $28,000 from State Farm Insurance on that claim, to which he wasn't entitled. In court documents, investigator Sean Ralph says the ring was never missing. 

A grand jury handed up an indictment with those charges of insurance fraud and grand larceny on March 8, 2019.