True Crime Stories of Insurance Fraud – Number 12

See the full video at https://rumble.com/vtyw1s-true-crime-stories-of-insurance-fraud-number-12.html and at https://youtu.be/_Fy0hgNKDWI

Barry Zalma, Esq., CFE presents videos so you can learn how insurance fraud is perpetrated and what is necessary to deter or defeat insurance fraud. This Video Blog of True Crime Stories of Insurance Fraud with the names and places changed to protect the guilty are all based upon investigations conducted by me and fictionalized to create a learning environment for claims personnel, SIU investigators, insurers, police, and lawyers better understand insurance fraud and weapons that can be used to deter or defeat a fraudulent insurance claim.

Arson for Profit During the L.A. Olympics

In 1983, just before the Olympics came to Los Angeles, the doctor decided he needed additional money to buy the lot next door to his Westwood, California duplex. It was his dream to tear down the duplex and build million dollar condominiums on the two lots. Before he could do so, however, he had to remove his tenants from the duplex. He also needed a substantial amount of cash as seed money for his intended development. His plan was to have a fire destroy the duplex and to use the money he expected to receive from his fire insurer to start construction of the condominiums.

He called his insurance agent who came to the duplex where the doctor lived with his girlfriend and her young son. He told his agent he had learned about the increase in construction costs. He told the agent he decided to double the limits of liability on his fire insurance policy. The agent, whose only concern was collecting additional commissions, put through the request for the increase with pleasure since doing so doubled his commission.