Latest Fraud Headlines
All the headlines from our Fraud Topic Page, ordered by recency.
Executive Life Judge Confirms Some $900M in Total Verdicts, Settlements
Dec 4 2005 // California Insurance Commissioner John Garamendi has praised a Los Angeles Federal judge’s ruling that the Artemis Co., reportedly a main conspirator in the fraudulent purchase of the Executive Life Insurance Co....
San Diego Contractor Ordered to Pay $37,669 in Restitution to State Fund
Dec 4 2005 // A San Diego County Superior Court has sentenced Valley Center, Calif., businessman John Presley to three years formal probation and ordered him to pay $37,669 in restitution to California’s State Compensation...
More Teeth for the D&O Fraud Exclusion
Dec 4 2005 // A D&O policy may require the insurer to continue advancing defense costs on behalf of “black hat” co-defendants until there is a “final adjudication” of wrongdoing. Insureds need to understand...
Calif. Physician Sentenced to 8 Years in Prison for Fraud
Dec 1 2005 // A Brentwood, California physician who pleaded no contest to fraud charges in three separate cases was sentenced this week to an eight-year prison term and ordered to pay his victims $5 million, the District...
Black Market AIDS Ring Members Apprehended for Diverting Drugs from Medicaid Recipients
Dec 1 2005 // Florida Attorney General Charlie Crist and U.S. Attorney Alexander Acosta today announced the arrests of four individuals, including two Miami physicians, for their participation in an organization that illegally diverted...
FBI Forms Task Force to Hunt Down ‘Gate Cutters’ Jewelry Theft Ring
Dec 1 2005 // The FBI today has formed The Gate Cutters Jewelry Task Force to partner with local police and the gem industry in trying to catch a team that has burglarized more than 50 jewelry stores on the East Coast, often by cutting...
Florida ‘Fraud Fighters Program’ Pays $16,000 in Rewards to Tipsters Reporting Schemes
Nov 29 2005 // Five individuals who reported fraud perpetrators have received $16,000 in cash rewards from the Florida Financial Services Department after the recipients, including a child, provided information that led fraud detectives...
More Civil Claims ‘Possible’ Against AIG’s Former Boss, But No Criminal Charges Expected
Nov 28 2005 // Additional civil charges against former American International Group Inc. Chairman and CEO Maurice “Hank” Greenberg are possible, but no state criminal charges are expected, a spokesman for New York Attorney...
Calif. Crash for Cash Ringleader Arrested
Nov 25 2005 // California Insurance Commissioner John Garamendi on Wednesday announced the arrest of the suspected ringleader of a major operation that has allegedly staged more than 60 auto collisions over the past 18 months, bilking...
Disaster Recovery Officials on the Prowl for Fraudulent Claims After Hurricanes
Nov 24 2005 // Numerous federal agencies have dispatched teams of special agents to investigate fraudulent claims from Hurricanes Katrina and Rita, according to the U.S. Department of Homeland Security’s Federal Emergency...
Executive Life Judge has Final Ruling; Confirms Some $900M in Total Verdicts, Settlements
Nov 23 2005 // California Insurance Commissioner John Garamendi on Tuesday praised a Los Angeles Federal judge’s ruling that the Artemis company, reportedly a main conspirator in the fraudulent purchase of the Executive Life...
ICT Joins Mesquite Police on Crime Prevention Program
Nov 23 2005 // The Insurance Council of Texas and the Mesquite (Texas) Police Department have joined together in a crime prevention program aimed at reducing automobile burglaries. The program involves the creation and implementation of...
Mass. AG Makes Final Argument for 18% Cut in Auto Insurance; Proposes Anti-Fraud Program
Nov 23 2005 // Massachusetts Attorney General Tom Reilly on Wednesday made his case for an 18 percent reduction in auto insurance rates for 2006 and also proposed an anti-fraud initiative based on the ongoing efforts in the city of...
Insurers Cool to N.Y. Proposal to Freeze Access to Consumer Credit
Nov 22 2005 // Insurance company lobbyists urged New York lawmakers in Albany this week to refrain from blocking insurers’ access to consumer credit information as part of their efforts to protect consumers from identity theft. The...
Software Monitors W.Va. Fraud
Nov 21 2005 // West Virginia has implemented investigation management software to enable the Insurance Commission’s Fraud Unit to monitor the growing volume of investigations and multiple investigators in various locations to...
Calif. Fraud Ring Lands Three in Jail
Nov 21 2005 // Three suspects have been arrested following an 11-month investigation by the California Department of Insurance of an auto insurance fraud ring that targeted car rental and insurance companies for fraudulent automobile...
Bus Driver Guilty of Workers’ Comp Fraud
Nov 21 2005 // A Metropolitan Transportation Authori-ty (MTA) bus driver has pleaded guilty to workers’ compensation insurance fraud after an investigation by the California Depart-ment of Insurance (CDI) Fraud Division. Renee...
Honolulu Man Convicted of Auto Insurance Fraud
Nov 21 2005 // The Hawaii Department of Commerce and Consumer Affairs’ Insurance Division has reported it has successfully prosecuted a man for auto insurance fraud. Kahala resident Roque Lindow pleaded guilty to three cases of...
FLORIDA
Nov 20 2005 // Brian, Brad and Dean Shecht-man, cousins who allegedly swindled more than 1,200 elderly victims out of millions of dollars in a bait-and-switch insurance scheme are in the limelight again as details surface about a...
Software Monitors W.Va. Fraud
Nov 20 2005 // West Virginia has implemented investigation management software to enable the Insurance Commission’s Fraud Unit to monitor the growing volume of investigations and multiple investigators in various locations to...
