Fraud News

Five New York Residents Charged in More Than $31.7M Fraud Scheme

Five New York residents have been arrested in a staged slip-and-fall accident scheme that attempted to defraud New York City-area businesses and their insurance companies of more than $31.7 million. Peter Kalkanis, Bryan Duncan, Kerry Gordon and Ryan Rainford, all …

Former Colorado Police Officer Sentenced for Defrauding Homeowners Insurer

A former Colorado police officer has been sentenced to 45 days in jail and five years of probation for felony insurance fraud. The Post Independent reported that ex-Silt police Col. Michael Taylor was also ordered to pay more than $70,000 …

Owner of Arizona Car Rental Companies Hit with $1.8M Verdict

A judge has ruled that the owner of two rental car companies in Phoenix, Ariz. must pay $1.85 million for defrauding Arizona consumers. The verdict was announced this week by the Arizona Attorney General’s Office. State prosecutors filed a consumer …

New York Working to Deter Fraud, Manipulation in Virtual Currency Markets

New York Department of Financial Services (DFS) has issued guidance reminding all virtual currency entities licensed by New York State, including those that hold a money transmitter license, that they are required to implement measures designed to detect, prevent and …

Businessman in Vermont Ski Resort Fraud Case Agrees to Pay $81M

A Miami businessman accused of massive fraud involving foreign investors’ money in a Vermont ski area has agreed to pay back more than $81 million and give up ownership of two ski resorts, the Securities and Exchange Commission said Friday. …

Unlicensed Contractor Sentenced to Prison for Fraud in Massachusetts

An unlicensed home improvement contractor whose false promises left an elderly Massachusetts woman’s home in ruins and others temporarily homeless is heading to prison. The Salem News reports that 49-year-old Jaime Ford was sentenced to two years in prison Thursday …

Former California Hospital Owner Sentenced in $600M Workers’ Comp Scheme

The former owner of Pacific Hospital in Long Beach was sentenced to federal prison on Friday for running a $600 million workers compensation fraud scheme. Michael Drobot, 73, was sentenced Friday to 63 months in prison and fined $500,000. Earlier …

Insurance, Finance Fraud in UK Jumps to $2.9B, a 15-Year High

Fraud in the U.K. rose to 2.1 billion pounds ($2.9 billion), the most in 15 years, as the police commander in charge of fighting the crime said the amount of evidence was setting back investigations. The value of finance and …

Former California Agent Sentenced for Stealing $100K in Premiums and Investments

Former licensed insurance agent Frederick Donald Rollins, 42, of Moreno Valley, Calif., was sentenced today after pleading guilty to one felony count of grand theft, two counts of securities fraud and an aggravated white-collar crime enhancement for stealing more than …

California Division of Workers’ Comp Suspends 16 Medical Providers

The California Division of Workers’ Compensation has suspended 16 more medical providers from participating in the state’s workers’ comp system, bringing the total number of providers suspended this year to 131. The suspensions were made possible by the passage last …