Ralph Taeger, 66, of Placerville, Calif., was arrested for workers’ compensation premium fraud on Jan. 2, 2003. Taeger surrendered to California Department of Insurance (CDI) investigators and was booked into the El Dorado County Jail.
The investigation by CDI disclosed that Taeger, owner of Taeger’s Firewood allegedly underreported his company payroll to the State Compensation Insurance Fund (SCIF) in order to avoid paying the proper workers’ comp insurance premiums. During the period of March 1, 1998 through March 1, 2002, SCIF was defrauded of $357,024.99 in premium monies.
As a result, SCIF received a small amount of premium but was subjected to a larger loss exposure than the premium amount would normally cover.
Bail was set at $10,000. If convicted, Taeger could face up to five years in state prison and/or a maximum fine of $50,000.
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