Latest Fraud Headlines
All the headlines from our Fraud Topic Page, ordered by recency.
2 Former Stanford Executives Convicted of Fraud
Nov 21 2012 // Two former associates of R. Allen Stanford have been convicted of fraud for trying to help the imprisoned U.S. financier conceal a $7 billion Ponzi scheme. Prosecutors in Houston say 70-year-old Gilbert Lopez Jr. and...
South Carolina Man Sentenced in Ohio for Workers’ Comp Fraud
Nov 14 2012 // A South Carolina man has been ordered to repay the Ohio Bureau of Workers’ Compensation (BWC) more than $140,000 for holding several jobs and concealing earnings while receiving permanent disability benefits, BWC...
Insurance Commissioner: Auto Theft Declines in Louisiana
Nov 6 2012 // Louisiana Commissioner of Insurance Jim Donelon reported that the number of vehicle thefts in Louisiana has declined nearly 42 percent over a five-year period from 2006 through 2011. The latest figures from the FBI Uniform...
Insurance Fraud Specialist Armour Group Concludes UK Sub Deal
Nov 5 2012 // The Bermuda-based Armour Group announced that an affiliate has completed a majority investment in Armour Intelligence Limited, a UK-based service, created by its founder and CEO, former Brigadier David Montgomery, to...
Surplus Lines: Regulators Vetting of Alien Nonadmitted Insurers
Nov 5 2012 // The National Association of Insurance Commissioners (NAIC) acts as the trade association for state insurance commissioners. The Nonadmitted and Reinsurance Reform Act of 2010 (NRRA) delegated to the NAIC responsibility for...
Property Crimes Rose 11 Percent in 2011
Nov 5 2012 // The government says the number of violent crimes rose by 18 percent in the United States while the rate of total property crime increased 11 percent, from 125.4 to 138.7 victimizations per 1,000 households between 2010 and...
Vehicle Thefts Down in Louisiana
Nov 5 2012 // Insurance Commissioner Jim Donelon says Louisiana is “is actively engaged in the prevention of insurance fraud and vehicle theft.” According to the Louisiana Department of Insurance, the number of auto thefts...
Property Crimes Rose 11 Percent in 2011
Nov 5 2012 // The government says the number of violent crimes rose by 18 percent in the United States while the rate of total property crime increased 11 percent, from 125.4 to 138.7 victimizations per 1,000 households between 2010 and...
Former Texas Agent Gets 10 Years, Must Repay $9.3M for Fraud
Nov 2 2012 // A former North Texas insurance salesman has been sentenced to 10 years in prison and must repay more than $9.3 million in a fraud case. Federal prosecutors in Dallas say 76-year-old Robert Hague-Rogers of Frisco wrongly...
Social Media Friends Nabbed In Northern California Staged Auto Insurance Fraud
Oct 29 2012 // Susan Lee, 24, Angelique Jones, 20, and Angela Medeiros, 40, all of Sacramento, Calif. have been arrested on three felony counts each of insurance fraud. The bail for the three ranges from $20,000 to $50,000. A fourth...
Former California Agent Sentenced In Theft Case
Oct 26 2012 // Former insurance agent James Henry Sim, 66, of San Diego, Calif. was sentenced to a stayed term of four years and four months in state prison, the California Department of Insurance announced on Friday. Sims was taken into...
Bank of America Employees Could Face Charges in Mortgage Fraud Case
Oct 26 2012 // Bank of America Corp. employees could face civil fraud charges as part of a federal lawsuit accusing the bank of causing taxpayers more than $1 billion in losses by selling toxic mortgage loans to Fannie Mae and Freddie...
Miss. Motorist Sentenced for Fraudulently Filing Duplicate Claims
Oct 25 2012 // Authorities in Mississippi announced this week that a local motorist will spend 12 months in jail for committing insurance fraud. Motorist Johnnetta White was sentenced to three years in the custody of the Mississippi...
Kansas City Officer Suspended over Insurance Fraud Charges
Oct 25 2012 // Kansas City, Mo., police officer accused of crashing his 2001 BMW for the insurance money has been suspended without pay. The Kansas City Star reported that Shawn Oden told insurers he was trying to avoid hitting two deer...
U.S. Sues Bank of America Over Alleged ‘Hustle’ Mortgage Fraud
Oct 24 2012 // The United States filed a civil mortgage fraud lawsuit against Bank of America Corp., accusing it of selling thousands of toxic home loans that later defaulted to Fannie Mae and Freddie Mac, leading to more than $1 billion...
U.S. Trial Set in Chevron Fraud Case Against Ecuador Lawyers
Oct 22 2012 // A U.S. trial has been set for next fall in a Chevron Corp lawsuit that accuses Ecuadorean residents, their lawyers, and advisers of fraud in obtaining a $19 billion pollution award against the U.S. oil company. U.S....
Billboards in Oklahoma Warn of Contractor Fraud
Oct 22 2012 // The Oklahoma Insurance Department and the National Insurance Crime Bureau (NICB) have teamed up to warn residents in the state’s wildfire disaster zones about contractor fraud. The department and the NICB are using...
Father and Daughter in Central Calif. Workers’ Comp Fraud Must Repay Over $600K
Oct 22 2012 // Jerry Buffington, 69, and Cynthia Russell, 47, pled guilty in Kern County Superior Court to one count each of workers’ compensation insurance premium fraud and eight counts each of tax evasion and were ordered to pay...
Md. Woman Convicted of Disability Fraud, Faces Up to 5 Years in Jail
Oct 12 2012 // Prosecutors say a woman who collected federal disability benefits while operating a fitness center has been convicted of making false statements to obtain those benefits. A jury convicted 48-year-old Darlene Altvater of...
N.J. Company Pleads Guilty to Theft of WC Insurance Premiums
Oct 11 2012 // New Jersey authorities announced that a Burlington County company has pleaded guilty for under-reporting the number of its employees and wages to evade the full payment of workers’ compensation insurance premiums....
