Latest Fraud Headlines
All the headlines from our Fraud Topic Page, ordered by recency.
Cyber Liability: Where to Find Cyber Coverage
Jan 28 2013 // The Buyer’s Guide to the Best Possible Cyber Insurance There are many cyber insurance products available for purchase, and each is somewhat unique. Some products are more comprehensive than others. Some cyber...
Michigan Governor Signs Order Creating New Insurance Department
Jan 28 2013 // Snyder also Supports Auto Insurance Reform; Fraud Prevention In his “State of the State” address in mid-January, Michigan Gov. Rick Synder recognized the importance of the insurance industry in the state,...
Texas Chiropractor Pleads Guilty to Defrauding Auto Insurers
Jan 24 2013 // A Bryan, Texas, chiropractor has entered a plea of guilty to engaging in a conspiracy to defraud various automobile insurance companies of more than $3 million, according to United States Attorney Kenneth Magidson. Chase...
Ohio Woman Sentenced to Prison for Insurance Fraud
Jan 24 2013 // Kelli Reyes, of Wauseon, Ohio, has been sentenced by the Fulton County Common Pleas Court to 10 months in prison after pleading guilty to felony insurance fraud, Lieutenant Governor and Department of Insurance Director...
Ex-Stanford Executive Gets 5 Years in $7B Swindle
Jan 23 2013 // The star prosecution witness in the trial of convicted Texas financier R. Allen Stanford was sentenced Tuesday to five years in prison for helping to bilk investors out of more than $7 billion in one of the biggest Ponzi...
Securities Fraud Class Actions Declined in 2012
Jan 23 2013 // Fewer investors are taking corporate America to court for fraud. The number of new federal securities fraud lawsuits seeking class-action status fell to a 7-year low in 2012, according to a study by Stanford Law School and...
Michigan Broker Pleads Guilty in $1M Fraud Case
Jan 21 2013 // A northern Michigan insurance broker accused of manipulating elderly clients has pleaded guilty to fraud. Prosecutors say William Lowder persuaded clients to change their investments and put money in annuities handled by...
Missouri Cops Investigating Smash-and-Grab Crimes
Jan 18 2013 // Police in several St. Louis, Mo.- area towns are investigating a string of smash-and-grab crimes with a twist: In many cases, nothing is taken. In six instances over the past few weeks, suspects have busted through the...
N.J. Lawmaker Aims to Classify Reverse Rate Evasion as Insurance Fraud
Jan 17 2013 // The New Jersey Assembly’s financial institutions and insurance committee advanced a bill that would include “reverse rate evasion” as a form of insurance fraud. The bill, A2204 — introduced by the...
2 Florida Moms Sentenced for Staged Accident Insurance Fraud
Jan 16 2013 // Two South Florida mothers have been sentenced to prison for their roles in staging car accidents to commit fraud on insurers. Federal prosecutors said that 42-year-old Ana Ovando of West Palm Beach was sentenced to more...
South Dakota Tree Farms Agree to Pay $170K in Insurance Fraud Case
Jan 14 2013 // The owners of two South Dakota tree farms linked to a Federal Crop Insurance Program fraud case have agreed to pay the federal government $170,000 to settle the case. The payment settled allegations Black Hills Tree Farm...
Plea Expected in Baton Rouge Workers’ Compensation Fraud Case
Jan 11 2013 // A former Prairieville, La., resident is accused of stealing more than $215,000 from workers’ compensation cases and a service firm that managed those cases for insurance companies. Assistant U.S. Attorney Cam T. Le...
3rd Defendant in W Financial Group $17M Fraud Sentenced to Prison
Jan 10 2013 // A man who, along with two others, falsely used the names of two well-known insurance groups in a scheme to swindle elderly people out of millions of dollars has been sentenced to prison in North Texas. Adley Husni...
N.Y. Agency Owner Charged With Issuing Fraudulent Certificates of Insurance
Dec 28 2012 // Authorities said a New York-based insurance agency owner has been charged with allegedly issuing fraudulent certificates of insurance. The New York State Police announced on Dec. 22 that Walter Davis, the owner of W. Davis...
U.S. Apppeals Court Revives Workplace Cybertheft Claim
Dec 27 2012 // In a decision that could make it easier for businesses to police cybertheft in the workplace, a U.S. appeals court revived a chemical company’s lawsuit accusing a former Toronto-area employee of using her home...
Former Illinois Policeman Accused of Worker’s Comp Fraud
Dec 26 2012 // A former police officer in a southwestern Illinois village is accused of collecting nearly $190,000 in fraudulent benefits. A Madison County grand jury indicted 43-year-old Richard Turner of Glen Carbon on Thursday of two...
N.C. Farmer Pleads Guilty to Million Dollar Crop Insurance Fraud
Dec 26 2012 // Federal authorities announced last week that a North Carolina farmer pleaded guilty to conspiracy to commit fraud on the federal crop insurance program for payments worth over $1 million. According to authorities, Harry...
South Carolina Sentences Men for Severed Hand Fraud Scheme
Dec 19 2012 // A South Carolina judge has sentenced the 58-year-old ringleader of a scheme to cut off the hand of a mentally disabled man to collect insurance money. Federal prosecutors said David Player controlled the man’s...
UBS Admits Fraud in Libor Rigging Scheme; To Pay $1.5 Billion Fine
Dec 19 2012 // Swiss bank UBS swallowed a $1.5 billion fine and admitted to fraud on Wednesday after a global probe revealed its staff orchestrated the manipulation of benchmark interest rates over three continents. UBS traders colluded...
Tennessee Business Owner Indicted for Alleged Workers’ Comp Fraud
Dec 18 2012 // Tennessee authorities announced recently that a Memphis business owner had been indicted for alleged workers’ compensation fraud. The state grand jury for Shelby County indicted Richard Nobles for four counts of...
