Latest Fraud Headlines
All the headlines from our Fraud Topic Page, ordered by recency.
N.Y. State Senate Passes Auto Insurance Fraud Measures
Mar 23 2012 // New York lawmakers want to slam the brakes on the auto insurance fraud. On Thursday, the state’s Senate passed three bills to fight auto insurance fraud. These measures will now move to the state Assembly for...
Ohio Tops Other States in Claims for Metal Theft
Mar 23 2012 // Ohio leads the nation in property insurance claims for the theft of copper and other metals, an industry-supported organization that fights insurance fraud says. The National Insurance Crime Bureau says Ohio property...
Ex-Sheriff Candidate Booked for Insurance Fraud in Louisiana
Mar 21 2012 // State police say a former candidate for St. Helena Parish, La., sheriff has been booked on counts of insurance fraud and felony theft. Trooper Nick Manale tells The Advocate 36-year-old Frederick Bell of Kentwood is...
Cargo Theft Reporting Improves, Says Insurers’ CargoNet
Mar 21 2012 // Reporting of cargo theft in the United states has improved thanks to data sharing by insurers, the transportation industry and law enforcement, according to an insurance industry tracking service. CargoNet, which was...
Florida Insurers Wary of PIP Rate Rollbacks Timed for October
Mar 21 2012 // While state officials are widely praising Florida’s new no-fault auto insurance law, insurers are wary of having to implement rate decreases before there is a corresponding drop in losses as the new law...
Company Pleads Not Guilty in Virginia to $670M Fraud
Mar 20 2012 // A Costa Rican company accused of a $670 million insurance fraud scheme has pleaded not guilty in federal court in Richmond, Va. Defense attorney John Russell entered the plea Monday on behalf of Provident Capital Indemnity...
Willis Among Targets of Stanford Third Party Class Actions
Mar 20 2012 // Victims of Allen Stanford’s estimated $7 billion Ponzi scheme won a victory when a federal appeals court said they may pursue class-action litigation against third parties they believe aided in the now-convicted...
Des Moines Exec Sent to Prison for Workers’ Comp Fraud
Mar 19 2012 // The owner of a Des Moines firm that provides companies with temporary employees has been sentenced to nearly five years in federal prison in a scheme to reduce the cost of his workers’ compensation insurance. The...
Va. Woman Faces Maximum of 303 Years in Prison for Healthcare Fraud
Mar 19 2012 // A Richmond, Virginia, woman has been convicted on 35 counts of health care fraud and other charges. Federal prosecutors say a U.S. District Court jury found 49-yar-old Veronica Sharon Cunningham guilty last Thursday after...
N.Y. Unveils Plan to Shut Down Fraud Docs, Medical Mills
Mar 19 2012 // Dishonest doctors and medical mills in New York better watch out! Following highly publicized crackdowns of major auto insurance fraud rings in the state, Gov. Andrew Cuomo unveiled a statewide initiative this month to...
2012 Hot Markets: High-Tech Crime and the Cloud
Mar 19 2012 // This article is part of our Hot Insurance Markets for 2012 special feature. The technology industry has been a growing sector in today’s economic environment and many insurers are responding by developing new...
SEC, Citgroup May Win Appeal in Mortgage Fraud Case
Mar 16 2012 // A federal appeals court stopped just short of throwing out a judge’s controversial rejection of the U.S. Securities and Exchange Commission’s $285 million fraud settlement with Citigroup Inc over mortgage...
Commerce Department: 23 Cars Stolen Every Day in Minnesota
Mar 16 2012 // On average, 23 cars are stolen — or almost one car per hour — every day in Minnesota, state officials say. Nearly 8,400 vehicles were stolen in Minnesota in 2010 alone, totaling more than $21.3 million in stolen value,...
Former South Dakota Deputy, Insurance Agent Sentenced for Fraud
Mar 15 2012 // A South Dakota sheriff’s deputy and former insurance producer who pleaded guilty in an insurance fraud case has been sentenced to about 2 1/2 months in jail and 2 1/2 years of probation. Forty-two-year-old Rob...
Trial Date Set for Former N.J. School Chief Accused of Insurance Fraud
Mar 15 2012 // A federal judge has set an April 9 trial date for a former New Jersey schools superintendent accused of corruption. But a decision on whether Michael Ritacco’s can be tried separately from his co-defendant has been...
Pennsylvania Guard Suspended Over Insurance Fraud Charges
Mar 15 2012 // A guard at the Allegheny County Jail in Pittsburgh has been suspended without pay because police say she filed a false claim that her car had been stolen when she knew, instead, that her boyfriend had crashed the vehicle...
Indiana, Nebraska and South Dakota Pass Contractor Fraud Bills
Mar 14 2012 // The Indiana and Nebraska legislatures recently passed much needed legislation that could help protect homeowners from contractor fraud and abuse, according to the Property Casualty Insurers Association of America...
N.Y. Unveils Plan to Shut Down Fraud Docs, Medical Mills
Mar 14 2012 // Dishonest doctors and medical mills in New York better watch out! Following highly publicized crackdowns of major auto insurance fraud rings in the state, Gov. Andrew Cuomo unveiled a statewide initiative this month to...
Securities Fraud Settlements in 2011 Were Lowest in Decade
Mar 14 2012 // Angry investors are seeing far fewer financial benefits from lawsuits accusing corporate America of securities fraud, but may be on the cusp of a turnaround. The number and size of securities fraud settlements that won...
Jurors: Evidence Overwhelming in Stanford Trial
Mar 12 2012 // In the end, the flashy business suits, charming smile, yachts, luxurious private jets and a passion for the sport of cricket couldn’t mask what Texas tycoon R. Allen Stanford actually was: a con man. Jurors who...
