View this article online: https://www.insurancejournal.com/magazines/mag-features/2012/11/19/270537.htm
A Southern California insurance broker was arrested on allegations he overcharged Tom Hanks, musician ex-Police band member Andy Summers and others hundreds of thousands of dollars for insurance premiums.
Broker Jerry B. Goldman was arrested at his Thousand Oaks home. A federal grand jury in Los Angeles indicted him on Oct. 30 for fraud. The indictment claims that between 1998 and last year, Goldman overcharged Hanks, Summers and two other victims more than $800,000 on insurance policies. He sent the insurance companies the premiums and kept the overcharged amount, prosecutors claim.
When clients asked him for copies of their policies, Goldman sent them altered copies that didn’t disclose the true premium “in order to lull his clients into a false sense of security” and keep them from suing him or seeking criminal prosecution, the indictment charged.
Details weren’t released but the indictment says the term “insurance policies” in the document refers to coverage for everything from cars, property and fine art to flood, fire, earthquakes, worker’s compensation and “personal employment practices liability.”