Following an investigation spanning two years, dozens of witness interviews, and examination of thousands of documents, a Calif. Grand Jury has indicted 22 suspects on more than 100 felony counts.
California Insurance Commissioner Dave Jones reported that the indictments were handed down by a Contra Costa County, Calif. Grand Jury on September 22, 2011 and that bail for the suspects has been collectively set at $18,650,000.
Meanwhile, investigators are still unraveling the extent of damage inflicted on the insurance industry as a direct result of the alleged fraud schemes. The current loss projection, which encompasses both tangible and potential damage amounts, ranges between $300,000 and $500,000.
Recommended For You
Want to continue reading?
Become a Free PropertyCasualty360 Digital Reader
Your access to unlimited PropertyCasualty360 content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking insurance news and analysis, on-site and via our newsletters and custom alerts
- Weekly Insurance Speak podcast featuring exclusive interviews with industry leaders
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the employee benefits and financial advisory markets on our other ALM sites, BenefitsPRO and ThinkAdvisor
Already have an account? Sign In Now
© 2025 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
