Richard Peters, 36, of Lakeside, Calif., pleaded guilty to one felony count of insurance fraud after being arrested last week by the San Diego Urban Auto Insurance Fraud Task Force on suspicion that he set fire to his vehicle in order to defraud Progressive Insurance out of nearly $32,000.
In October 2013, one month after he financed a Ford Fusion for $32,000, Peters allegedly reported his car stolen and it was found later that night by the San Diego Police Department burning in San Ysidro near the Mexico border.
Peters claimed to have an alibi during the time his car was stolen, telling investigators he was helping someone purchase a dune buggy. Evidence uncovered by detectives revealed Peters was not where he claimed to be on the night his car was stolen.
“Insurance crimes are an expensive drain on the state’s economy totaling billions of dollars annually, and those costs are passed along to consumers,” California Insurance Commissioner Dave Jones said in a statement.
Peters was booked into San Diego Central Jail and will remain in custody until his sentencing court date on June 11 at the San Diego Superior Court. The San Diego District Attorney’s Office is prosecuting this case.
Topics California Auto
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