23 charged in $26 million life insurance fraud scheme

[Insurance Forums Staff]

Insurance Forums Staff submitted a new article

23 charged in $26 million life insurance fraud scheme

A federal grand jury in Chicago recently charged 23 defendants with participating in a fraud scheme through which they allegedly swindled 10 life insurance carriers out of at least $26 million in fraudulent benefits.

Continue reading the Original Article.

 

[somarco]

The list of defendants reads like a gangster movie script . . . AKA "Fonzie", AKA "Jake", AKA "Cabby" . .. .

 

[Allen Trent]

Seems ho hum aftee seeing this court case involving GEICO this week. Not sure if client had purchased the optional STD rider or "full coverage" just includes this in 2022

Geico ordered to pay $5.2M to woman who got HPV in a car
In a bizarre twist, a Missouri woman was awarded a $5.2 million judgment after a man knowingly infected her with HPV during intimate activities in his car.

 

[Tahoe Ray]

Seems ho hum aftee seeing this court case involving GEICO this week. Not sure if client had purchased the optional STD rider or "full coverage" just includes this in 2022

Geico ordered to pay $5.2M to woman who got HPV in a car
In a bizarre twist, a Missouri woman was awarded a $5.2 million judgment after a man knowingly infected her with HPV during intimate activities in his car.

I saw that one and couldn't for the life of me figure out how Geico should be on the hook for that.

 

[Tahoe Ray]

The list of defendants reads like a gangster movie script . . . AKA "Fonzie", AKA "Jake", AKA "Cabby" . .. .

I'm guessing they are actual gangsters and this was a mafia financial scam.

It's way easier to steal millions with a pen as opposed to a gun.

 

[Allen Trent]

I'm guessing they are actual gangsters and this was a mafia financial scam.

It's way easier to steal millions with a pen as opposed to a gun.

I wonder about the aspects mentioned about funeral homes & death certificates. Makes me wonder if they disappeared homeless people matching the description of insured

 

[suranceman]

I saw that one and couldn't for the life of me figure out how Geico should be on the hook for that.

That's because you're a sane rational person. That judgment is a travesty of justice.

 

[somarco]

I'm guessing they are actual gangsters and this was a mafia financial scam.

It's way easier to steal millions with a pen as opposed to a gun.

You Can Get Much Further with a Kind Word and a Gun than with a Kind Word Alone - Al Capone

How times have changed . . .

 

[Tahoe Ray]

You Can Get Much Further with a Kind Word and a Gun than with a Kind Word Alone - Al Capone

How times have changed . . .

Well, Capone was a fan of the pen as well since he went to jail for tax evasion.

 

[rousemark]

The list of defendants reads like a gangster movie script . . . AKA "Fonzie", AKA "Jake", AKA "Cabby" . .. .

There is one "mob" name: Frank Costello.