Fraud of the Week

November 4, 2019

Arson — Maryland

Amount: $15 million

A Baltimore jury has convicted a man who conspired to set fire to his own business. The Maryland military weapons manufacturing company owner conspired to defraud his insurers of more than $15 million by setting fire to his business in 2015. The claims that the insured fraudster submitted to his insurers totaled more than $21 million. Of the $15 million paid out, some was transferred to his wife, which was used to buy luxury cars, a motorcycle and expensive jewelry.