Latest Fraud Headlines
All the headlines from our Fraud Topic Page, ordered by recency.
Florida Interests Unite Against Auto Accident Fraud
Mar 1 2011 // Florida insurers, government agencies and consumer advocate groups have established a statewide alliance to push for legislative reforms aimed at cracking-down on staged-accidents that the industry says are costing Florida...
New Mexico Fraud Bill Would Allow Judges to Aggregate Claims
Feb 28 2011 // The New Mexico Senate has passed a bill giving judges authority to aggregate the dollar amount of false insurance claims to determine the penalty before sentencing a fraudster. Judges can impose harsher sentences by...
Florida Insurers, Businesses Take Aim at PIP Fraud
Feb 24 2011 // Insurance companies are taking to the Internet to combat auto insurance fraud in Florida. The Property Casualty Insurers Association of American has launched www.InsuranceFraudUncovered.com, a Web site designed to...
New York Suit Against Accountant Over Lehman Takes Detour
Feb 24 2011 // New York state regulators face their first test soon in their accounting fraud lawsuit against Ernst & Young LLP over its role as auditor for Lehman Brothers Holdings Inc. The first major government legal action...
Garcia, Ross Reappointed to Texas Auto Burglary, Theft Prevention Authority
Feb 22 2011 // Texas Gov. Rick Perry has reappointed Carlos Garcia of Brownsville and Kenneth Ross of Houston to the state Automobile Burglary and Theft Prevention Authority for terms to expire Feb. 1, 2017. The authority assesses the...
Pittsburgh Agency Shut for Alleged Premium Fraud
Feb 22 2011 // The Pennsylvania Insurance Department has shut down Pittsburgh-based Morry Hoffman Agency Inc. for allegedly misappropriating $1 million in premiums. The agency wrote commercial policies for restaurants including liquor...
New Jersey Man Pleads Guilty in Car-Fire Fraud
Feb 17 2011 // A New Jersey man has pleaded guilty to torching is aunt’s car so she could collect insurance money — and pay him out of the proceeds for his role in the scheme, prosecutors said. Kristopher Wynder, of Vineland,...
Whistleblower Alleges JPMorgan Ignored Red Flags on Fraud
Feb 16 2011 // A former JPMorgan Chase & Co. private banker has filed a new whistleblower complaint against the bank, saying it ignored many red flags about a suspicious client even after the fraud of another client, Bernard Madoff,...
Investigation Solutions Saves Client $50,000 on Fraudulent Workers’ Compensation Claim
Feb 10 2011 // San Diego, CA, 02/10/11 – Investigation Solutions, Inc., the subsidiary of American Claims Management, Inc. (ACM) that handles fraud and special investigations, announced its first fraud arrest for 2011. A suspicious...
Insurance Fraud Starts with Unexpected Offer of Repair Services
Feb 8 2011 // Each year consumers pay more for their auto and homeowners insurance policies as a direct result of fraud. Unnecessary auto glass repairs, exorbitant towing charges, needless home repairs, total roof replacements, sinkhole...
Texas AG: Drug Maker to Pay $170M in Damages for Fraud
Feb 7 2011 // A Travis County (Texas) jury recently returned a record-setting verdict for damages against drug manufacturer Actavis Mid-Atlantic LLC, the Texas Attorney General’s office announced. The jury determined that Actavis...
Lloyd’s Warns of Increases in Fraudulent Claims
Feb 7 2011 // Fraud is a fact of life for the insurance industry – part of the game so to speak. While some claims, as Lloyd’s notes in an article on its web site, may cause people to smile, the amount of money they cost the...
Insurers Laud New Jersey Fraud-Fighting Legislation
Feb 3 2011 // The Property Casualty Insurers Association of America (PCI) says it wants New Jersey lawmakers to adopt legislations that would enhance fraud-fighting efforts. The insurers’ trade group, which testified today in...
Florida Businessman Charged with Workers’ Compensation Fraud
Jan 31 2011 // Florida officials have charged a Duval County man with allegedly creating a fake company and fake name as part of a workers’ compensation fraud scheme. Florida CFO Jeff Atwater announced the arrest of David...
Pennsylvania Insurance Fraud Fighters Say Media Campaign Helping
Jan 28 2011 // An advertising and public relations campaign by the Pennsylvania agency that coordinates insurance fraud prevention activities is increasing the public’s understanding of various kinds of fraud, according to a new...
8 Floridians Get Rewards for Reporting Insurance Fraud
Jan 28 2011 // Eight Floridians who provided information that led to arrests and convictions in five major insurance fraud cases have been given rewards totaling $50,500. These citizens helped uncover more than $2 million in fraudulent...
Iowa Employment Agency Owner Pleads Not Guilty to Fraud Indictment
Jan 27 2011 // The owner of a Des Moines, Iowa, employment agency has pleaded not guilty to federal fraud charges. Dinesh “Dan” Sethi is accused of scheming to defraud insurance companies out of workers’ compensation...
Iowa Employment Agency Charged with Workers’ Compensation Premium Fraud
Jan 26 2011 // The owner of a Des Moines employment agency has been indicted on federal fraud charges, accused of scheming to defraud insurance companies out of workers’ compensation premiums. Dan Sethi, of Ankeny, owns DES...
Investors Accuse Bank of America’s Countrywide of Massive Fraud
Jan 25 2011 // Bank of America Corp.’s Countrywide mortgage unit has been sued by investors claiming they were victimized in a ‘massive fraud” when they bought mortgage-backed securities. The lawsuit was filed on Monday...
Oklahoma Insurance Department to Cut 6 Fraud Investigators
Jan 25 2011 // Oklahoma’s new insurance commissioner plans to lay off six of the office’s nine fraud investigators. Commissioner John Doak says the cuts will save $323,000 per year and will enable the office to focus on fraud...
