Fraud News

Massachusetts Couple Charged With $627K in Workers’ Compensation Fraud and More

A Hopkinton, Massachusetts couple has been arrested and charged in connection with separate schemes to defraud their workers’ compensation insurance carriers, the Small Business Administration (SBA) and their mortgage lender. According to the U.S. Attorney, Ronaldo Solano and Adriana Solano …

Colorado Farmers Must Pay $6.5M for Defrauding Federal Crop Insurance Programs

Two Colorado Farmers must pay more than $6.5 Million for defrauding federal crop insurance programs, according to U.S. Attorney Cole Finegan. Finegan’s office announced that Patrick Esch and Ed Dean Jagers of Springfield, Colorado, agreed to pay the sum to …

Fidelity Investigations: A Comprehensive Guide to Successful Claims Outcomes (Part 2)

Editor’s note: This is the second of a two-part series. The first part of the story ran on Claims Journal on March 4. Throughout the fidelity claims handling process, issues or challenges may arise for which parties involved must reconcile. …

Fidelity Investigations: A Guide to Successful Claims Outcomes

Editor’s note: This is the first of a two-part article. Fidelity/crime/financial institution bonds, in a general sense, cover an insured from the willful theft of property, money, and securities by one of their employees or an outside third-party carried out …

Six Charged in Alleged $1M Auto Insurance Claims Scheme in Massachusetts

Six people have been indicted in connection with the alleged filing of fraudulent insurance claims through their auto body repair business in Everett, Massachusetts. Four of the defendants were arraigned this week in Middlesex Superior Court, while two others also …

Jury Finds Former NRA Chief LaPierre Misspent Gun Group’s Funds, Owes $4.4M

The longtime head of the National Rifle Association, Wayne LaPierre, misspent millions of dollars of the organization’s money, using the funds to pay for an extravagant lifestyle that included exotic getaways and trips on private planes and superyachts, a New …

Insurance Fraud Fighters Report Big AI Ambitions – But Not So Fast

Nearly one-in-five anti-fraud professionals (18%) counts artificial intelligence (AI) and machine learning (ML) technology among their fraud-fighting tools, while another 32% anticipate implementing these technologies in the next two years, a new report shows. The 2024 Anti-Fraud Technology Benchmarking Report …

HP Seeks $4 Billion in Losses From Lynch Over Autonomy Fraud

Hewlett Packard Enterprise Co. is seeking as much as $4 billion from Autonomy Corp.’s former bosses following a London judge’s finding that they fraudulently boosted the value of the company before its sale. Founder Mike Lynch was found to have …

Survey Shows 1-in-5 People Have Considered Committing Insurance Fraud

One-in-five respondents said they had at least considered committing insurance fraud, with half of those saying that they had gone through with their plans, while 30% of respondents said knew someone who’d at least considered committing insurance fraud. Nearly half …

Federal Trade Commission Reports Nationwide Fraud Losses Topped $10B in 2023

Consumers reported losing more than $10 billion to fraud in 2023, marking the first time that fraud losses have reached that benchmark, and a 14% increase over reported losses in 2022, Newly released Federal Trade Commission data shows. Consumers reported …