fraud scheme News

Virginia Business Owner Must Pay Back $4M for Fraud Scheme

A Virginia business owner who spent business loans on personal expenses, including his rock band, will pay more than $4 million in restitution, in addition to serving a 10-year federal prison sentence. The Virginian-Pilot cites a U.S. Department of Justice …

Ex-Car Dealership Official in New Jersey Sentenced for Stealing Nearly $3M

The former general manager of a now-defunct New Jersey car dealership who got nearly $3 million through a fraud scheme has been sentenced to five years in prison. Richard Pepe had pleaded guilty to bank fraud and filing a fraudulent …

New York Insurance Broker Sentenced in $1M Fraud Scheme

An Albany insurance broker has been sentenced to nine years in prison for a $1 million securities fraud scheme. Lawrence D. Rosenbaum previously pleaded guilty to charges including grand larceny and securities fraud. He also admitted failing to file state …

Sober-living Home Operators in California Charged in $176M Fraud Scheme

Former operators of a Southern California sober-living operation have been charged with fraud for allegedly keeping hundreds of people in what the state insurance commissioner calls a “never-ending cycle of treatment, addiction and fraud.” The Insurance Department announced the arrests …

Florida Makes 4 Arrests in $145K PIP Fraud Scheme

The Florida Department of Financial Services’ Division of Insurance Fraud (DIF) announced the arrest of four South Florida arrests of individuals on charges related to their involvement in three separate personal injury protection (PIP) fraud schemes that resulted in the …

South Florida a Haven for All Types of Fraud

Need a phony ID? A fraudulent tax refund? Insurance money from a sham car crash? Florida may have just what you’re looking for. Since the first settlers hacked their way into the mangrove tangles and drained much of the swampland, …

California Chiropractor Charged In Insurance Fraud Scheme

A Riverside County, Calif. chiropractor is accused of masterminding an elaborate fraud scheme that bilked insurance companies out of millions of dollars. The Press-Enterprise reports Peyman Heidary is charged with heading a criminal organization that established medical clinics and a …

Chubb Launches Crime Coverage for Payment Fraud

The Chubb Group of Insurance Companies has created a crime insurance endorsement to help protect companies from an increasingly prevalent type of fraud. Chubb’s Social Engineering Fraud Endorsement provides coverage for an organization’s losses when an employee is tricked into …

Texas Man Arrested, Charged in $3.5M Staged Accident Fraud Scheme

A Duncanville, Texas, man faces federal charges in an alleged multi-million dollar staged accident fraud scheme. The U.S. Attorney’s Office for the Northern District of Texas reported that Leroy Nelson was arrested by federal agents on felony charges, outlined in …