Insurer and Insurance Agents Jailed for Fraud
Maryland Insurance Executive Guilty of Wire Fraud
Jeffrey Brian Cohen, 39, of Reisterstown, Md., after four days of trial, pled guilty on June 5, 2015 to wire fraud, aggravated identity theft, making false statements to an insurance regulator, and obstruction of justice.
According to information in his plea agreement, Cohen acted as the president and chairman of the board of a Delaware corporation known as Indemnity Insurance Corporation RRG. Cohen previously controlled a District of Columbia corporation called Indemnity Insurance Corporation of DC, Risk Retention Group (Indemnity-DC), which was a predecessor entity to Indemnity.
Iowa Agent Gets 41 Months in Prison for Defrauding Insurance Companies
Melissa Ilene Williams, of Dike, Iowa, was ordered to pay restitution for fabricating and submitting life insurance policies to two separate insurance companies between July 2011 and January of 2012. Williams pled guilty to one count of mail fraud on March 3, 2014.
Williams, a former Des Moines, Iowa, insurance agent was sentenced to 41 months in prison for insurance fraud, the Iowa Insurance Division announced.
Iowa Insurance Division revoked Williams’ insurance producer’s license in November of 2013.
Williams was ordered in federal court to pay full restitution in the amount of $139,137.13 to Funeral Directors Life Insurance Co., a Texas based insurer and $36,010.19 to National Guardian Life Insurance Co. in Madison, Wis.
Upon her release, Williams will also be supervised by authorities for an additional three years.
The insurance division said the investigation found that during 2011 and 2012, Williams forged the signatures of people she knew on bogus life insurance policies and collected $170,292 in fraudulently obtained commissions from Funeral Directors Life Insurance Co. and National Guardian Life Insurance Co.
Williams was sentenced on June 19, 2014, in United States District Court for the Northern District of Iowa in a prosecution filed by the United States Attorney’s Office for the Northern District of Iowa. The prosecution was the result of a collaborative effort of the Federal Bureau of Investigation, the United States Postal Inspection Service and the Iowa Insurance Fraud Bureau.
© 2020 – Barry Zalma
Barry Zalma, Esq., CFE, now limits his practice to service as an insurance consultant specializing in insurance coverage, insurance claims handling, insurance bad faith and insurance fraud almost equally for insurers and policyholders. He also serves as an arbitrator or mediator for insurance related disputes. He practiced law in California for more than 44 years as an insurance coverage and claims handling lawyer and more than 52 years in the insurance business. He is available at http://www.zalma.com and email@example.com.
Mr. Zalma is the first recipient of the first annual Claims Magazine/ACE Legend Award.
Over the last 52 years Barry Zalma has dedicated his life to insurance, insurance claims and the need to defeat insurance fraud. He has created the following library of books and other materials to make it possible for insurers and their claims staff to become insurance claims professionals.
Read posts from Barry Zalma at https://parler.com/profile/Zalma/posts