Latest Fraud Headlines
All the headlines from our Fraud Topic Page, ordered by recency.
CDI RECEIVES $110M ON BEHALF OF EXECUTIVE LIFE POLICYHOLDERS:
Jun 21 2004 // The California Department of Insurance announced it has received $110 million on behalf of California policyholders of insurance sold by Executive Life Insurance Company (ELIC) and its 330,000 former policyholders. The...
WASH. L&I ENFORCES NEW ANTI-FRAUD LAWS:
Jun 21 2004 // Anti-fraud legislation passed in March took effect June 10, giving the Department of Labor and Industries (L&I) broad new authority to combat fraud and abuse of the workers’ compensation insurance system. A...
Former Broker Arrested in $4M Fraud Scam
Jun 21 2004 // Richard W. Peterson, 63, of San Francisco, a former insurance broker/agent, was arrested at Miami International Airport on federal fraud charges for allegedly selling approximately $4 million of fake insurance policies...
Executive Life Whistleblower Admits Role; Acted to Avenge Business Plot
Jun 18 2004 // French businessman François Marland, who currently resides in Switzerland, has admitted his role in denouncing the actions of Credit Lyonnais (CL) when it acquired California-based Executive Life in 1991. In an interview...
Ga. Agent Charged with Defrauding Client
Jun 18 2004 // Georgia Insurance Commissioner John W. Oxendine said an investigation by his Fraud Unit resulted in a Valdosta insurance agent being arrested and charged with defrauding one of his clients. Dustin Ty Arnold, 24, has been...
Fla. CFO Releases Annual Top 10 Fraud List
Jun 14 2004 // Florida’s Chief Financial Officer Tom Gallagher has released the Department of Financial Services’ annual Top 10 Fraud List, which summarizes 10 of the costliest or boldest securities, financial and insurance...
Oklahoma Governor Signs Identity Theft Bill
Jun 9 2004 // Oklahoma Gov. Brad Henry has signed Senate Bill 1164, a measure designed to help protect victims of identity theft. According to the Senate Communications Office, State Sen. Mike Johnson, R-Kingfisher, is principal author...
North Dakota Man Fined $40,000 for Comp Fraud
Jun 9 2004 // A Mandan, N.D., man was ordered to pay over $40,000 in back premium and penalties to the Workforce Safety and Insurance (WSI) after pleading guilty to a charge of failure to secure workers’ compensation coverage for...
Wash. L&I Enforces New Anti-Fraud Laws Effective June 10
Jun 9 2004 // Anti-fraud legislation passed in March takes effect Thursday, June 10, giving the Department of Labor and Industries (L&I) broad new authority to combat fraud and abuse of the workers’ compensation insurance...
GM Trucks Top Texas DPS’ Most Stolen Vehicles List
Jun 3 2004 // Stressing that auto theft worries increase during summer, the Texas Department of Public Safety released its annual list of the most stolen vehicles. General Motors trucks came out on top. Auto thieves don’t take a...
Seven Indicted for Fraud in Travis County, Texas
Jun 3 2004 // The Travis County (Texas) District Attorney’s Office announced that a Travis County Grand Jury returned indictments charging seven people with the felony offense of unauthorized insurance. The Insurance Fraud Section...
Report: 1995 Saturn SL Tops Most Stolen Vehicle List
Jun 2 2004 // One of every 200 registered 1995 Saturn SLs were stolen last year, making it 2003’s most stolen vehicle, according to a report from Chicago auto claims software provider CCC Information Services Inc. The 1998 Acura...
Kansas Commissioner Praeger Expands Anti-Fraud Effort
Jun 2 2004 // Kansas Insurance Commissioner Sandy Praeger announced the expansion of the department’s movement to investigate insurance fraud and educate Kansas consumers about protecting themselves from illegal activity. Jerry...
New Surveillance Technology Unveiled to Fight No-Fault Auto Fraud in New York City
Jun 1 2004 // The latest tools in surveillance technology – “Joey and “Whisper” – are joining the fight against no-fault insurance fraud in New York City, according to the National Insurance Crime Bureau...
$110 Million from Settlement in Credit Lyonnais Case Transferred to Calif. Commissioner’s Office
Jun 1 2004 // $110 million paid by Artemis S.A. in a settlement with the United States Attorney’s Office in connection with the Credit Lyonnais criminal case has been transferred to the California Insurance Commissioner, United...
Fraud, Tort Reform Bills Pass in Minnesota
May 28 2004 // The 2004 Minnesota legislative session adjourned on May 16, with several insurance-related bills signed into law, and a fraud bill now on Republican Gov. Tim Pawlenty’s desk, according to the Property Casualty...
Mass. Insurers Told of Ways to Manage High Risks
May 25 2004 // Pilgrim Insurance Company, a business process outsourcing firm in Boston, last week sponsored a timely seminar to promote awareness of auto reform and methods for managing high risk business in Massachusetts. Industry...
Accenture Survey Targets Industry Fraud
May 25 2004 // The majority of Americans say insurance fraud occurs because people believe they can get away with it, according to results of a survey released today by Accenture. The survey, based on a random sample of more than 1,000...
Ark. A.G. Reports Crime Victims Reparations for April
May 25 2004 // Attorney General Mike Beebe announced that the Arkansas Crime Victims Reparations Board awarded $349,835 in reparations to 170 crime victims during April, 2004. Additional expenses were paid in 100 previously submitted...
N.J. Businessman Admits Million Dollar Insurance Fraud
May 24 2004 // New Jersey Attorney General Peter Harvey announced that the owner of a defunct Camden County insurance brokerage business has been ordered to pay more than one million dollars in restitution and jailed for seven years as a...
