Filed Under:Claims, Investigative & Forensics

Top 10 Most Sensational Fraud Stories of the First Half of 2012

Anxious consumers and businesses are increasingly turning to insurance fraud to escape financial turmoil, giving little thought to the very real consequences of perpetuating this serious crime. Just as their schemes have gained in complexity and vigor, so too has the investigative acumen of law enforcement, insurance carriers, and industry organizations.

In fighting this growing epidemic, our collective storytelling serves a valuable purpose—that is, to educate peers about emerging trends and the methodologies used to identify and deter them. Sharing these real-life crime dramas, from staged accidents to arson and workers’ comp fraud, also underscores the toll exacted on insurers and society as a whole.

9. Fake Claim, Fake Death, Real Arrest

One man stole more than $11 million from Zurich North America to purchase planes, a yacht, and, yes, a DeLorean, before faking his death and fleeing to Canada.

4. Man Forfeits Own Hand for Insurance Payout

An insurance scheme gone awry has left two South Carolinians with blood on their hands after allegedly conducting an amputation on a third party with a rudimentary yard tool.

3. MMA Fighter Turned Workers’ Comp Fraudster

As a mixed martial arts fighter, Raphael Davis is a force to be reckoned with: In the “light heavyweight” fight class, his record is 12 victories, with just 2 losses. As a con artist, however, the Calif. man is a failure. Davis has been charged with four felony counts of insurance fraud in connection with allegedly filing false workers’ compensation claims.

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