After attempting to collect insurance money under false pretenses, a Virginia woman could be trading in her bling for another light-reflecting accessory: handcuffs. When Nicole Wallace of Newport News, Va. filed a second insurance claim for lost jewelry, the claim was not only denied but she was also slapped with a fraud conviction and sentence.

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Just months after receiving an insurance payment for lost jewelry, Wallace submitted a nearly identical claim for lost jewelry to the same insurance company, USAA. She claimed to have misplaced a $900 ring purchased at a local K-Mart. Special Agent Russell Eley, Virginia State Police (VSP) Insurance Fraud Program evaluated the Newport News K-Mart store records, which contradicted Wallace's statements.

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As a result, prosecutors convicted Wallace in Newport News General District Court of "attempting to obtain money by false pretenses." The court sentenced her to 12 months in jail. The sentence, however, was suspended under the terms that Wallace pay a $500 fine and complete 50 hours of community service by April 23, 2010.

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