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Sep23
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It seems to me the most common type of insurance fraud is Workers Compensation Fraud. Almost every week there is at least one if not two or three workers comp fraud cases. Any ideas as to why this type of fraud is so popular?
- Felony Grand Theft - Former insurance agent sold “errors and omissions” policy to client; collected $79,634.36 over a five-year span but never placed coverage or forwarded premiums to insurance carrier.
- Stop Selling Promissory Notes - A North Dakota insurance agent has been ordered to stop selling promissory notes or other securities after he failed to repay investors, the state securities commissioner says.
- Workers Comp Fraud - Bobbie Knapp pleaded guilty in Franklin County Common Pleas Court to a felony count of workers' comp fraud and received a sentence of five years probation and ordered to repay BWC $18,540.81.
- Auto Collision Ring - Insurance Commissioner John Garamendi today announced the early morning arrests of four suspects in a staged auto collision ring that allegedly caused more than 100 collisions in the Bay Area resulting in more than $2 million in losses to insurers.
- Workers Comp Fraud - An Elk City, Okla. man was ordered to pay more than $20,000 in restitution after pleading guilty to two felony counts of workers' compensation fraud in Oklahoma County District Court, the state attorney general's office announced.
- Health Insurance Fraud - 12 suspects –six licensed chiropractors, a doctor of osteopathy, a physician’s assistant, and four clinic workers – allegedly over-billed insurance companies and prescribed excessive disability time off for patients covered by workers’ comp insurance.
- Medicaid Fraud Scheme - Texas Attorney General Greg Abbott announced a four-year sentence handed down recently against Vincent C. Agu, 55, the owner of a Spring family services counseling clinic located at his residence known as Innovations & Imaginations. Following the week-long trial, he was also fined $10,000 for his scheme to fraudulently bill Medicaid for counseling services he never rendered, a third-degree felony.
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I suppose people attempt worker's compensation fraud because they feel like they can get away with it, but that's a terrible reason to break the law and defraud the system. When you look at a list like this one and see physicians on the list of people busted for insurance fraud, it has to lead you to wonder what they were thinking... doctors can still make a pretty decent living, without fraud, can't they?
Jerry
www.leads4insurance.com
Posted by: Jerry | January 4, 2008 10:45 AM | Permalink to Comment