Latest Fraud Headlines
All the headlines from our Fraud Topic Page, ordered by recency.
Ironshore Launches Commercial Crime Coverage Through Pembroke Syndicate
Jul 26 2012 // Ironshore Inc. has launched a specialty commercial crime product to be offered by its Lloyd’s Pembroke Syndicate 4000, based in London. Offering coverage limits up to GBP 20 million, Ironshore’s commercial...
Indiana Physician Who Hid in Europe Pleads Guilty to Fraud
Jul 25 2012 // A former northwestern Indiana nose surgeon who was once the subject of an international dragnet before being captured on an Italian mountainside after five years on the run has pleaded guilty to 22 counts of health care...
Buffalo Region Has Highest Auto Theft Rate in New York State
Jul 23 2012 // The New York Insurance Association said this month the Buffalo-Niagara Falls metropolitan area has the highest vehicle theft rate in New York State. The region had a vehicle theft rate of 161.19 thefts per 100,000...
North Dakota Insurance Agent Charged With Stealing from Customer
Jul 20 2012 // A Dickinson, N.D., insurance agent is accused of stealing $30,000 from a customer three years ago to buy gold coins and make a payment on his credit card. Scott Biggs is charged with five felonies. The most serious carries...
Montana Agent Pleads Guilty To Stealing Premiums
Jul 19 2012 // An insurance agent from Butte, Mont. who pleaded guilty to stealing more than $7,200 of his client’s premiums has been given a three-year deferred sentence and ordered to pay restitution. State Insurance Commissioner...
‘Whistleblowers’ Claim fraud at SF Academy of Art
Jul 18 2012 // Four former recruiters at the Academy of Art University in San Francisco are accusing school officials of using an illegal compensation plan to cheat the federal government out of millions of dollars in financial aid, the...
Settlement Reached with Ex-US Fidelis Workers
Jul 18 2012 // The Missouri attorney general’s office has reached a deal with some former employees of US Fidelis allowing compensation for being laid off without proper warning. US Fidelis was once a leading seller of vehicle...
Bank of America Settles Mortgage Fraud Lawsuit with Bond Insurer Syncora
Jul 18 2012 // Bank of America Corp. has agreed to pay $375 million to settle a case brought by bond insurer Syncora Guarantee over toxic mortgage-backed securities at the center of the 2008 financial crisis. Syncora sued Bank of America...
Hawaii Enacts 4 New Laws To Curb Cybercrimes
Jul 17 2012 // Four new Hawaii laws are aimed at curbing cybercrimes. Gov. Neil Abercrombie recently signed bills to combat cyberbullying, to prohibit adults from soliciting minors to electronically transmit nude images of minors and to...
Buffalo Region Has Highest Auto Theft Rate in New York State: Report
Jul 12 2012 // The New York Insurance Association said Thursday the Buffalo-Niagara Falls metropolitan area has the highest vehicle theft rate in New York State. The region had a vehicle theft rate of 161.19 thefts per 100,000...
Man Faces Charges After Claiming $20,000 for Fake Dead Cat
Jul 5 2012 // A Tacoma, Wash. man is facing attempted theft and insurance fraud charges after filing a $20,000 claim for a fictitious dead cat, using pet photos he lifted off the internet. “We’ve handled some pretty unusual...
Former Claims Manager Indicted for Fraud Scheme in Massachusetts
Jul 3 2012 // Massachusetts officials said two men — including a former claims manager — have been indicted in connection with a scheme to fraudulently collect an insurance payment of more than $23,000. “We allege that...
Florida’s Anti-Fraud Auto Insurance Law Now in Effect
Jul 2 2012 // A trio of constitutionally questionable measures and legislation designed to crack down on no-fault auto insurance fraud are among about 150 new Florida laws going into effect Sunday. A law that bans state and local...
Report: Vehicle Theft Falls, California Still Dominates Top 10 List
Jul 2 2012 // The National Insurance Crime Bureau reported 2011 is on track for another consecutive year of declining vehicle thefts, but California still dominates the top 10 list for areas highest auto theft rates. Seven of the top 10...
Former AIG, Gen Re Execs Admit to Fraud, Pay Fines
Jul 2 2012 // Five former executives of American International Group Inc and Berkshire Hathaway Inc unit Gen Re admitted to conducting a fraudulent reinsurance transaction on June 22 as part of a deal to end a years-long criminal case...
Nebraska Insurance Agent Admits Fraud
Jul 2 2012 // One of three former Nebraska insurance agents accused of defrauding more than 250 investors out of $29 million has pleaded guilty and agreed to help prosecutors. The Grand Island Independent reported that Kenneth Mottin,...
Professional Liability Exposures Evolve with Changing Healthcare Environment
Jul 2 2012 // National healthcare reform legislation passed by Congress in 2010 may or may not survive consideration by the U.S. Supreme Court, but the healthcare system already has been evolving in ways that are likely to proceed...
Former Fugitive Doctor in U.S. Custody, Facing Fraud
Jun 29 2012 // A doctor who spent a dozen years on the run from federal fraud charges in Illinois has been returned to the United States from Peru. Sixty-five-year-old Dr. Juan Rios was arraigned in federal court in East St....
Nebraska Construction Company Owner Sentenced for Wire, Insurance Fraud
Jun 26 2012 // A Fremont, Neb., man has been sentenced to 18 months in federal prison for a wire fraud conviction that cost banks and insurance companies in Nebraska and Iowa millions of dollars. Thomas Herink was sentenced in...
North Carolina Pastor Charged with Insurance Fraud
Jun 25 2012 // A pastor in North Carolina has been arrested and accused of taking about $23,000 in an insurance scam. The Hickory Daily Record reported that 47-year-old Chuck Hager was arrested and charged with 13 felonies. The pastor of...
