Latest Fraud Headlines
All the headlines from our Fraud Topic Page, ordered by recency.
House Committee Approves Financial Services Anti-fraud Bill
Jul 9 2001 // Federal legislation aimed at helping prevent fraud from within the ranks of the rapidly converging financial service sector has been voted out of the House Financial Services Committee. This legislation — the Fin-ancial...
Indicted for Insurance Fraud
Jul 9 2001 // A Travis County grand jury has indicted Houston businessman Randall C. Long on charges of defrauding the Texas Workers’ Compensation Insurance Fund of some $167,000 in premiums. With the indictment, Long, owner of ST...
NICB Reports Efforts to Fund Models for Street/Drag Racing Can Lead to Fraud
Jul 2 2001 // According to the National Insurance Crime Bureau (NICB), illegal street racing may be “Fast and Furious” as a popular film suggests, but the real production is largely funded by fraud and theft. The popular...
eTailer Alliance Aims to Fight Online Credit Card Fraud
Jun 27 2001 // RC Knox & Company, the insurance agency subsidiary of People’s Bank, announced the formation of the eFraud Alliance and the eTailer Fraud Solution Insurance Policy (eFSIP) to protect online businesses from the...
Auto Dismantler Arrested for Auto Insurance Fraud
Jun 26 2001 // Following a six-month investigation by the California Department of Insurance (CDI), Organized Automobile Fraud Interdiction Task Force, a former Sacramento auto dismantler was arrested on four felony counts of insurance...
4X4 For Fraud
Jun 25 2001 // CDI fraud investigators arrested a Fresno resident, Kyle Cory Bettencourt, 27, on auto insurance fraud charges on May 22, 2001 and booked him into the Fresno County Jail. Bettencourt was charged with four felony counts of...
Temp Could Do Time on Fraud Charges
Jun 25 2001 // CDI investigators arrested Martha Rodriquez of Riverside on charges of workers’ compensation fraud and perjury. Rodriquez, 37, also known as Graciela Castro, was booked into Riverside County Jail on a $5,000 felony...
Insurance Co. Alleges Theft
Jun 22 2001 // Cincinnati, Ohio-based Great American Insurance Co. went to U.S. Bankruptcy Court in an attempt to rescind a crime insurance policy it had issued to the now defunct Tri-State Armored Services of Hammonton. The insurer...
CPCU Society, NICB Join Together to Provide Education During Insurance Fraud Prevention Week
Jun 22 2001 // In an effort to educate consumers nationwide about insurance fraud and the price we all pay for these crimes, the Chartered Property Casualty Underwriters (CPCU) Society and National Insurance Crime Bureau (NICB) released...
Former San Diego Agent Receives Seven Year Sentence
Jun 21 2001 // The California Department of Insurance (CDI) announced that Ronald Allen Prasky, 31, owner and operator of Border Pacific Insurance Services, was sentenced in San Diego Superior Court today to seven years in state prison....
PA Couple Given 14 Years in Faked Death Insurance Fraud
Jun 20 2001 // Lee Likhit Kongsiri and his wife Phatcha, former Lehigh County residents, were each given 14 year prison terms for defrauding six different life insurers a total of $1.6 million by faking Lee’s death in Thailand in...
NICB Says Insurance Fraud Scams Not Uncommon
Jun 20 2001 // A report by the National Insurance Crime Bureau (NICB) notes that the most common insurance fraud schemes include anyone from organized criminals, corrupt doctors, lawyers and body shop operators to residents who pad...
Fraud Probe Launched in Independent Collapse
Jun 19 2001 // The U.K.’s Financial Services Authority, which oversees the insurance industry, has asked the country’s serious fraud office to investigate certain aspects surrounding the collapse of Independent Insurance Co.,...
State Bills Highlight Concern About Insurance Fraud, Anti-Fraud Group Says
Jun 18 2001 // Anti-fraud reforms recently passed in Tennessee, Florida and Nevada are a signal that insurance fraud is becoming a top-tier crime around the country, according to the Coalition Against Insurance Fraud, a national...
House Approves Development of National Antifraud Network
Jun 15 2001 // A computer network that would link together the existing databases of U.S. state and federal banking, securities and insurance regulators in an effort to combat financial fraud could soon be a reality, much to the pleasure...
Insurance Fraud Nets Arrest
Jun 15 2001 // A Riverside, Calif., man was arrested and booked into Riverside County Jail on a pair of felony counts of insurance fraud and one misdemeanor count of leaving the scene of an accident. Investigators from the California...
Auto Accident Fraud Nets Arrests
Jun 13 2001 // Seven felony arrests in the Los Angeles and Riverside County areas were the result of an eight-month joint investigation conducted by investigators from the California Department of Insurance (CDI) Criminal Investigations...
New York Arrests Result from No-Fault Fraud
Jun 12 2001 // Three New York individuals were recently arrested for their alleged involvement in a no-fault insurance fraud scheme. Igor Perlov, a security guard; Inna Perlova, his wife; and Lidiya Shvarts, their neighbor; both who...
Nevada Legislature Wraps Up 2001 Session on Positive Note
Jun 12 2001 // The Nevada State Legislature adjourned last week following several important victories for the insurance industry, according to lobbying groups. Passage of measures benefiting insurers and the defeat of several trial...
Alleged Bail Bond Fraud Gives Industry Black Eye
Jun 11 2001 // A number of agents and a colleague from Ray’s Bail Bonds in Riverside, Calif., found themselves on the other end of the bailing out process last month when more than 200 felony counts were levied against them for...
