Latest Fraud Headlines
All the headlines from our Fraud Topic Page, ordered by recency.
Tyco to Pay $3 Billion to Settle Shareholders’ Lawsuit
May 17 2007 // Tyco International Ltd. has agreed to pay about $3 billion to settle shareholder claims from one of the largest corporate fraud cases ever, ending uncertainty over the outcome of the legal battle as it prepares to split...
Utah Housing Director Faces Fraud Allegations
May 16 2007 // The local director of a federal low-income housing program in Salt Lake City has been suspended pending an investigation into allegations of questionable hiring practices and insurance fraud. Rosemary Kappes was placed on...
Texas Secretary, Barrel Racer Pleads Guilty to Fraud Charges
May 14 2007 // Texas Mutual Insurance Company reported that a Houston woman pleaded guilty to workers’ compensation fraud-related charges in a Travis County district court. The court sentenced Sheryl K. Reynolds to a 10-year...
Former Students Win $9 Million Settlement in Fraud Case
May 14 2007 // Washington students who alleged they were defrauded by the defunct Business Computer Training Institute have won a $9 million settlement and may get tens of millions more. An insurance company for BCTI, once based in Gig...
La. Agent Accused of Pocketing Premiums
May 11 2007 // An Alexandria, La., insurance agent has been arrested and issued a cease and desist order and summary suspension of his licenses for allegedly misappropriating premium money from policyholders and failing to remit premiums...
ABI Survey Estimates UK Fraudulent Claims at $8 Million a Day
May 10 2007 // A survey conducted by the Association of British Insurers concludes that fraudulent insurance claims are now costing insurers and honest customers over £4 million ($7.98 million) every day. The annual cost is around £1.6...
Pa. Broker Arrested For Alleged Premium Finance Fraud
May 10 2007 // A former Bucks County, Pennsylvania insurance broker has been arrested by the Pennsylvania Attorney General’s Office for allegedly defrauding four insurance premium companies and the state’s bureau of...
W. Va. Man Arrested on Insurance Fraud Charges
May 9 2007 // A Raleigh County was arrested May 4 and charged with first degree arson and insurance fraud after allegedly setting fire to his former residence. Andrew B. Halstead, 51, and currently of Prosperity, allegedly burned down...
Ga. Commissioner Charges Columbus Agent with Fraud
May 8 2007 // A Columbus, Ga., insurance agent has been charged with three counts of insurance fraud for allegedly keeping premiums paid to her for property and taxicab liability coverage instead of forwarding the payments to an...
California Assembly Insurance Committee passes fraud measure
May 7 2007 // California’s Assembly Insurance Committee has passed Assembly Bill (AB) 1401 on a bi-partisan 8-0 vote. According to the California Department of Insurance, the measure would provide the DOI with additional...
N.D. Poolman: Agent suspected of taking $700,000
May 7 2007 // An insurance agent who killed herself in late March is now suspected of taking $700,000 in premium payments from a number of businesses, state officials say. They have yet to figure out why. Investigators also have not...
Western states top national list of hot spots for stolen cars
May 7 2007 // The Las Vegas area has stolen the top spot on the list of auto thefts around the nation, followed by other areas in the West. After three consecutive years as the area with the worst per capita vehicle theft, Modesto,...
FBI: Former La. Police Union Head Lied About Insurance Scam
May 3 2007 // A former police union president in Monroe, La., is accused of lying to federal investigators about a former officer’s alleged insurance scam. Federal agents arrested Paul Brown, 41, a 16-year department veteran who...
Texas’ March Enforcement Actions Lead to $188K in Fines, Restitutions
May 3 2007 // The Texas Department of Insurance announced enforcement actions that became final during March include nine license revocations, four license denials and fines and restitution totaling $188,826. Copies of Insurance...
La. State Police Charge Bondsman with Theft and Insurance Fraud
May 2 2007 // The Louisiana State Police reported that its Insurance Fraud and Auto Theft Unit on April 30, 2007, arrested a bail bondsman in the Rapides Parish area on theft and insurance fraud charges. Wayne Thomas, 36, McKeithen...
Calif. Assembly Insurance Committee Passes Fraud Measure
Apr 26 2007 // California’s Assembly Insurance Committee has passed Assembly Bill (AB) 1401 on a bi-partisan 8-0 vote. According to the California Department of Insurance, the measure would provide the DOI with additional...
Las Vegas Area Tops National List for Stolen Cars
Apr 25 2007 // The Las Vegas area has stolen the top spot on the list of auto thefts around the nation, followed by other areas in the Western United States. According to the National Insurance Crime Bureau, 22,441 vehicles were stolen...
Bush Administration Releases Plan to Combat ID Theft
Apr 24 2007 // Attorney General Alberto R. Gonzales and Federal Trade Commission Chairman Deborah Platt Majoras announced completion of the President’s Identity Theft Task Force strategic plan to combat identity theft. The plan...
Former owner of Neb. auto glass company faces insurance fraud charges
Apr 23 2007 // The previous owner of an Omaha, Neb.-area automotive glass repair company is facing insurance fraud charges after an investigation by the Nebraska Department of Insurance Fraud Prevention Division. Douglas County Attorney...
N.D. Workers’ Comp Director, Investigator Face Criminal Charges
Apr 20 2007 // North Dakota’s workers compensation director was put on leave Wednesday after criminal charges were filed against him and the agency’s top fraud investigator involving questionable spending on gifts and...
