FBI

In $1.2 Million Fraud Plot, Four Women Invented A Man Then Killed Him Off

Ryan J. Reilly | September 3, 2010, 6:17PM

Just how low did four California women go to make a quick buck ripping off insurance companies? Six feet under.

Federal Bureau of Investigation headquarters today highlighted a recent conviction in a scheme by four individuals in the Los Angeles area to invent a man out of whole cloth, hold his funeral, and then reap in the insurance benefits from his death.

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Topics: Barbara Ann Lynn, FBI, Faye Shilling, Hutaree, Insurance, Insurance Fraud, Jean Crump, Lydia Eileen Pearce

Insurance

Life Insurers Profit By Withholding Cash From Military Families: Bloomberg

Rachel Slajda | July 29, 2010, 9:31AM

Life insurers -- including Prudential, which provides life insurance for the Department of Veterans Affairs -- keep payouts to families in their own corporate accounts, earning more interest on the money than they give to the beneficiaries.

Bloomberg reports that many life insurance companies send beneficiaries a "checkbook" when they opt to get their money in a lump sum. The companies assure families that the money is safe with them until they need it.

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Topics: Department of Veterans Affairs, Insurance, Miltiary families , U.S. Military