Latest Fraud Headlines
All the headlines from our Fraud Topic Page, ordered by recency.
Illinois Insurance Agent Accused in $370K Fraud Scheme
Jun 30 2009 // The Illinois Department of Insurance reported that a licensed insurance agent, Larry Chouinard of Kankakee, has been arrested for allegedly defrauding 13 businesses of nearly $370,000. Bradley, Ill., police arrested...
California Efforts To Reduce Prison Budget Would Hurt Fraud Fighting
Jun 29 2009 // California Gov. Arnold Schwarzenegger has proposed downgrading insurance crimes in California from felonies to misdemeanors to help reduce the prison budget — a move that insurance and fraud experts say would have...
TJX Reaches Settlement with States on Data Theft
Jun 25 2009 // The parent company of retailers T.J. Maxx and Marshall’s will pay $9.75 million in a settlement with multiple states related to a massive data theft that exposed tens of millions of payment card numbers. Framingham,...
Illinois Insurance Agent Pleads Guilty to Fraud
Jun 25 2009 // Zion, Ill., resident Reuben Collier Jr. has pleaded guilty to four Class 3 felony charges in Lake County Court, the Illinois Department of Insurance announced. Collier, an insurance agent licensed by the Department,...
South Texas Brokers Charged with Multi-Million Dollar Insurance Fraud
Jun 25 2009 // Two licensed insurance brokers with offices in the Brownsville, Texas, area have been charged with conspiracy, mail fraud and wire fraud in a multi-million dollar scheme, according to U.S. Attorney Tim Johnson. The U.S....
Lawyer Says Alabama Agent Trying to Clean Up Ex-Employees’ Fraud
Jun 24 2009 // The lawyer for a Gulf Shores insurance agent has asked state officials to grant her a probation period to allow her to make repayments to customers victimized by fraud. Richard Lively said that revoking the license of...
Louisiana Agent Accused of Fraud
Jun 23 2009 // A Baton Rouge, La., insurance agent has been arrested, served with a cease and desist order, summary suspension order and fine notice for alleged fraud. Henry Leo Beard, Jr., 36, was arrested by agents with the Louisiana...
HealthSouth CEO Scrushy Ordered to Pay Shareholders $2.9 Billion
Jun 22 2009 // An Alabama state judge has ordered former HealthSouth CEO Richard Scrushy to pay nearly $2.9 billion to shareholders who sued over a massive accounting fraud that nearly sent the rehabilitation chain into...
Arkansas Agent Arrested on Fraud Charges
Jun 22 2009 // Arkansas Insurance Commissioner Jay Bradford announced the arrest of Rickey Lynn Warren of Hensley, a former a licensed insurance agent charged with insurance fraud. Warren is accused with taking checks totaling $2,125 for...
Former General Re Executive Given Probation
Jun 18 2009 // A former business executive was sentenced Tuesday to two years of probation for his role in an accounting scandal that cost shareholders of insurer American International Group Inc. more than $500 million. John...
Officials Looking to Catch Few Bad Apples Among P/C Insurance Agents
Jun 17 2009 // Those who track insurance criminals for a living say that as the economy has worsened, insurance fraud has been on the rise– and they are on the alert for any jump in fraud by property/casualty agents and...
Finding Fraudsters
Jun 15 2009 // Insurance fraud has become a nationwide problem, and experts say it’s a problem that has the potential to get worse as people look for ways to cut down on their expenses as the economy tightens. “The special...
Insurance in Times of Financial Crisis
Jun 15 2009 // Legal Issues To Be Aware Of With EPL, D&O and Fiduciary Liability Insurance The current financial crisis affects almost every aspect of our business life — that includes insurance. Businesses need to be wise...
California Senate Passes Insurance Fraud Bill
Jun 15 2009 // The California Senate has passed SB 156 to authorize the Department of Insurance or a district attorney to convene meetings with an insurance company to discuss a specific insurance fraud and would provide that any person...
Pressure Is On to Catch a Few Bad Apples
Jun 15 2009 // Fraud Investigators on Alert to Prevent Property/Casualty Agent Abuses from Spreading Those who track insurance criminals for a living say that as the economy has worsened, insurance fraud has been on the rise — and...
Agents Can Help Fight Insurance Fraud
Jun 15 2009 // Insurance agents can play a big role in helping states to fight insurance fraud. And with insurance fraud costing California alone $15 billion each year, or $500 per resident, the cost of which is eventually passed onto...
Alabama Sees Drop in Copper Thefts
Jun 10 2009 // A downturn in the commodity markets has slowed the number of thefts in the Montgomery, Alabama area. Police in Elmore and Autuaga counties say when scrap copper was selling for $3.50 a pound, they constantly responded to...
Insight Launches ID Theft-Protection Program
Jun 2 2009 // New York-based program manager Insight Catastrophe Group has launched a new division that will provide identity theft programs to personal and commercial lines insurance carriers. The new program includes two supplemental...
Top Trial Lawyer Cauley Pleads Guilty to Fraud in Insurance Case
Jun 1 2009 // An Arkansas lawyer who rose to prominence in lucrative securities fraud class-action litigation pleaded guilty on Monday to charges of stealing more than $9 million of client money. Lawyer Steven Eugene Cauley told U.S....
California Considers Bill to Expand Insurance Fraud Reporting Law
Jun 1 2009 // The California legislature is considering amending the state’s insurance code to expand the state’s reporting law in insurance fraud. According to the text of AB 802, existing law requires “an insurer, or...
