View this article online: https://www.insurancejournal.com/news/east/2019/03/28/522094.htm
Four New Jersey men and six of their associated businesses were charged with first-degree conspiracy and money laundering in connection with a bank scheme involving the deposit of nearly $1.4 million in phony or forged checks related to insurance claims.
Trenton, N.J., residents Wayne M. Bessant, Reyshauwn Barlow, Rayshawn Kelly and Rashon Smith and their associated companies – Hoffman Restoration LLC, Best Way Restoration LLC, Wayne Enterprises Since 1981, Fast Cash Investments LLC, JLaw & Investors LLC, and Group of LJNMB&W LLC – were charged in an indictment handed by a state Grand Jury in Trenton.
The defendants allegedly conspired in a scheme to set up several phony bank accounts in the name of People’s Property Adjusters (PPA), a West Deptford company that assists insureds in submitting claims against homeowner insurance policies.
The defendants allegedly used the phony accounts to deposit forged insurance payout checks stolen from PPA, and also to deposit phony PPA checks purportedly made out to defendant-controlled bank accounts.
The defendants then used the phony accounts to transport the illicit funds to other bank accounts, official checks and/or other financial instruments under the control of the four men or companies associated with them, according to the indictment.
The indictment is merely an accusation, and the defendants are presumed innocent until proven guilty.
Source: New Jersey Attorney General’s Office