Latest Fraud Headlines
All the headlines from our Fraud Topic Page, ordered by recency.
California Investment Manager Pleads to $8.3 Million Fraud
Nov 5 2009 // A San Francisco investment manager is facing a maximum sentence of 20 years in prison after pleading guilty to fraud. Federal prosecutors say in pleading guilty to mail fraud Tuesday, Alexander Trabulse admitted that he...
New Orleans Jury: Dell Liable for $12.8M in Crime Camera Suit
Nov 4 2009 // A jury in New Orleans has found Dell Inc. liable for $12.8 million in damages over unfair competition and conspiracy claims in a lawsuit involving the city’s problematic crime camera surveillance program. Southern...
Documents Reveal How SEC Botched Madoff Securities Investigations
Nov 2 2009 // U.S. securities investigators raised repeated concern over how Bernard Madoff could be running an honest business, but never followed through on the many red flags they uncovered. Hundreds of documents released last Friday...
Connecticut Insurance Agent Admits Stealing Clients’ Money
Nov 2 2009 // Federal prosecutors say a Waterbury businessman has admitted to ripping off more than $1.3 million from clients that authorities say was used to gamble at Connecticut’s casinos. The U.S. Attorney’s office said...
California Reports 25% Jump in Auto Fraud Cases Linked to Arson
Nov 1 2009 // In the year 2008, there was a 25 percent increase in suspected vehicle arson fraud in California, according to the state. Commissioner Steve Pointer said that recently compiled statistics show that scam artists may be...
California’s Dunhill Insurance Charged with Municipal Bond Fraud
Oct 30 2009 // A California financial products firm, two current executives and a former executive were indicted on Thursday for bid rigging and fraud related to municipal bond contracts, the Justice Department said. Dunhill Insurance...
Georgia Auto Fraud Ringleader Arrested
Oct 30 2009 // Georgia officials say they have arrested the ringleader in a fraud ring operating in Savannah, that collected nearly $95,000 from six insurance companies by staging accidents and filing bogus claims. Insurance Commissioner...
California Pizzeria Owner Pleads to Insurance Fraud
Oct 30 2009 // Two Southern California men who were arrested on Oct. 15 for workers’ compensation insurance fraud in Orange County. The state Insurance Commissioner, Steve Poizner, said that Sanjiv Mahendra Shah, 53, of Placentia...
Montana Insurance Commissioner Announces Fraud Settlement
Oct 30 2009 // LPL Financial Corporation (LPL) will pay nearly $1.3 million in restitution to Montana investors and a fine of $150,000 to the State of Montana under a settlement announced today by Monica Lindeen, Montana Commissioner of...
Texas May Drop Phone Numbers from Vehicle Accident Reports
Oct 29 2009 // In a blow to businesses that contact drivers after car wrecks, Texas’ law enforcement and transportation agencies have agreed to drop telephone numbers from crash reports. The move is supported by the insurance...
Programs to Combat Vehicle Theft to Expand in New Orleans
Oct 29 2009 // Commissioner of Insurance Jim Donelon says Louisiana’s program to reduce vehicle theft and insurance fraud will be expanded in Orleans Parish, which includes New Orleans. Donelon made the announcement about the...
All in the Family: North Carolina Brother, Sister Charged with Fraud
Oct 28 2009 // A brother and sister have been arrested by North Carolina officials on charges of insurance fraud. State Insurance Commissioner Wayne Goodwin reported the arrest of Wanda Nichols Covington, 36, and her brother; Thomas...
Real Estate Agent Arrested for Workers’ Comp Fraud in New York
Oct 27 2009 // A Florida real estate agent has been arrested in New York for committing insurance fraud against the state’s largest workers’ comp insurer, the New York State Insurance Fund. Ben Keskin, 52, of Florida, was...
California Has Rise in Auto Insurance Fraud
Oct 26 2009 // In the year 2008, there was a 25 percent increase in suspected vehicle arson fraud in California, according to the state commissioner. Department of Insurance Commissioner Steve Poizner said that recently compiled...
Madoff Investors Add KPMG, MassMutual, Major Banks to Lawsuit
Oct 21 2009 // Some investors defrauded by epic swindler Bernard Madoff on Tuesday added accounting firm KPMG, JPMorgan Chase and Bank of New York Mellon to a civil lawsuit in a New York court, lawyer Joseph Cotchett said. The lawyer,...
California Fraud Suit to Target Major Bank
Oct 20 2009 // California Attorney General Jerry Brown’s office said Monday it would unveil a lawsuit against a major bank for committing fraud against the state’s Calpers and Calstrs retirement systems, two of the...
Louisiana State Police Recover More Stolen Equipment
Oct 20 2009 // The Louisiana State Police reports that its Region 1 detectives have recovered additional stolen farm and construction equipment after further investigation into a case in which two suspects had already been charged with...
People
Oct 19 2009 // Michael “Mike” R. Donohoe of Mankato, Minn., was installed as vice chairman of the Independent Insurance Agents & Brokers of America at the association’s recent Leadership Conference in New Orleans,...
Police Have Doubts About California Art Theft Claim Scenario
Oct 19 2009 // Two men who claim thieves broke into their rental home in the ritzy coastal enclave of Pebble Beach and made off with millions of dollars worth of art have been named as suspects in the case. Monterey County...
California Agent Sentenced to 13 Years in Theft Case
Oct 14 2009 // A Sacramento insurance agent has pled no contest in a case in which it was alleged she took money from clients to invest in real estate loans, but never did. The authorities have said that Maria Elna Flora, 59, who pled to...
