Tag: investigation


Vesttoo in active discussions with potential investors for alternative collateral for clients

August 7, 2023

Via: Reinsurance News

As insurtech Vesttoo continues its investigation into the alleged fraudulent letters of credit (LOCs) used as collateral in its transactions, the firm has reiterated its commitment to “working with alternative investors and brokers to ascertain alternative collateral” for its clients. […]


California man headed to prison for unemployment insurance scam

February 16, 2022

Via: Insurance Business

A California man is headed to prison after admitting to unemployment insurance fraud to the tune of more than $170,000. Kier Jordan Parker, 25, fraudulently obtained unemployment benefits by submitting multiple unemployment claims in other people’s names and using benefits […]

Regulatory / Legal

Twelve charged in $20 million “Operation Vacant Lot” insurance fraud case

December 22, 2021

Via: Insurance Business

An investigation into a Phillipsburg, NJ truck stop has uncovered a massive $20 million insurance fraud scheme, with 12 individuals charged in connection with the fraud ring. The charges cover about $2.7 million in underpaid insurance premiums for just the […]