Latest Fraud Headlines
All the headlines from our Fraud Topic Page, ordered by recency.
Former AIG, General Re Execs Admit to Reinsurance Fraud, Pay Fines
Jun 25 2012 // Five former executives of American International Group Inc. and Berkshire Hathaway Inc. unit General Reinsurance admitted to conducting a fraudulent reinsurance transaction on Friday as part of a deal to end a years-long...
Deal Reached in AIG, General Re Executives’ Fraud Case
Jun 22 2012 // A deal has been reached to prevent a new criminal fraud trial for former executives of American International Group Inc. and Berkshire Hathaway Inc. unit Gen Reinsurance, federal prosecutors said on Friday. “The...
Wisconsin Insurance President Indicted for Fraud
Jun 22 2012 // A federal grand jury has indicted the president of a Wausau insurance company on 24 counts of fraud. According to an indictment, J.N. Manson Agency President Timothy Mathwich forged insurance premium finance notes for...
CDI Gives $32 Million to Fight Workers’ Comp Fraud
Jun 21 2012 // The California Department of Insurance will distribute $32 million in grants to district attorneys in California to support efforts to investigate and prosecute workers’ compensation insurance fraud. Every year, the...
Oklahoma Physician, Hospital Settle Fraud Case for $1.5M
Jun 21 2012 // State and federal officials say an Oklahoma hospital and physician have agreed to a $1,550,000 payout to settle a health care fraud case. Sanford C. Coats, U.S. attorney for the Western District of Oklahoma, and Oklahoma...
Appeals Court Throws Out Kentucky Bank’s Investment Lawsuit
Jun 21 2012 // A Kentucky-based bank that lost at least $14 million on mortgage-backed securities failed to read documents associated with the investment and didn’t give enough specifics to sustain claims of fraud against...
Mississippi Man Jailed for Insurance Fraud
Jun 21 2012 // A 31-year-old Jones County, Miss., man is jailed on an insurance fraud charge. The state attorney general’s office told the Hattiesburg American, Terrell McAndrews of Heidelberg has been indicted and arrested on one...
Nebraska Insurance Agent Pleads Guilty to Mail Fraud
Jun 21 2012 // One of three former Grand Island, Neb.-based insurance agents accused of defrauding more than 250 investors out of $29 million has pleaded guilty. The Grand Island Independent reported that Kenneth Mottin, of St. Libory,...
Report: Vehicle Theft Falls, California Still Dominates Top 10 List
Jun 20 2012 // The National Insurance Crime Bureau reported 2011 is on track for another consecutive year of declining vehicle thefts, but California still dominates the top 10 list for areas highest auto theft rates. Seven of the top 10...
Former Mass. Lawyer Found Guilty of Stealing $186K From Clients
Jun 19 2012 // A former Greenfield, Massachusetts, attorney was convicted Monday in connection with stealing over $186,000 from an elderly couple he represented in a personal injury settlement involving an auto accident, according to...
Stanford’s Lawyers Plan to Appeal 110-Year Sentence
Jun 19 2012 // Former billionaire Allen Stanford was sentenced in Houston to 110 years in prison on July 14 for running a $7 billion scheme in which he stole money from his investors to finance an extravagant lifestyle in the Caribbean....
Professional Liability Exposures Evolve with Changing Healthcare Environment
Jun 18 2012 // National healthcare reform legislation passed by Congress in 2010 may or may not survive consideration by the U.S. Supreme Court, but the healthcare system already has been evolving in ways that are likely to proceed...
Second Member of Alleged Auto Theft Crime Family Nabbed
Jun 14 2012 // Louis Miller, 55, has been arrested on felony charges related to an organized automobile theft ring that was operating in Northern California’s Bay Area. Miller’s bail has been set at $1 million. If convicted...
Maine Man Sentenced for Insurance Theft
Jun 11 2012 // A Maine man recently convicted of federal gun charges has pleaded no contest in state court to insurance fraud charges for burning down his house. Joseph T. Smith of Township 6 pleaded no contest last week to a charge of...
Southern Calif. Agents Nabbed In Million Dollar Ponzi Scheme
Jun 8 2012 // A current and a former insurance agent from Southern California have been arrested for allegedly running a million-dollar Ponzi scheme. Edwin Salazar, 34, of Downey, and Michael Zuniga, 41, of Fullerton have each been...
Louisiana Woman Convicted of Bank Theft, Will Pay $284K to Insurer
Jun 8 2012 // A federal judge has sentenced a former employee of Teche Federal Bank in New Iberia to 27 months in prison for embezzling over $387,000 between June 2008 and January 2011. On Wednesday, U.S. District Judge Rebecca Doherty...
North Dakota Woman’s Sentence for Theft from Insurance Agency Deferred
Jun 7 2012 // A woman who was accused of stealing almost $17,000 from the Devils Lake, N.D., insurance agency where she worked has been given a one-year deferred sentence. Melodi Newgren will have the offense wiped from her record if...
Markel Joins Cargo Theft and Recovery Service
Jun 6 2012 // Markel is now a member of CargoNet in an effort to assist policyholders in cargo theft prevention, response, and recovery. CargoNet, which provides information about supply chain risk, is a division of the Verisk Crime...
New Law in Oklahoma Toughens Penalties for Insurance Fraud
Jun 4 2012 // A bill recently passed and signed by the governor toughens the penalties for insurance fraud, Oklahoma officials say. Senate Bill 1439, requested by Insurance Commissioner John D. Doak, is expected to save taxpayers...
Tennessee Cracks Down on Roofing Contractor Fraud
Jun 4 2012 // Roofing contractors operating in Tennessee will have to provide residents whose homes are damaged due to tornadoes and other storms with more information about their company and about their rights to cancel contracts under...
