Barry Zalma, Esq., CFE presents videos to help you learn about insurance fraud and what it takes to discourage or defeat insurance fraud. This video blog about true crime fraud insurance stories with names and locations changed to protect the culprits are all based on surveys done by me and fictionalized to create a learning environment for claimants, SIU investigators, insurance companies, police and insurance fraud lawyers can be used to deter or defeat a fraudulent insurance claim.
See the full video at https://rumble.com/vu299e-true-crime-stories-of-insurance-fraud-number-13 .html? mref = 22lbp & mrefc = 2 and https://youtu.be/K9v-yi8AvNU and https://youtu.be/RsFqMa4vJYQ
How a fake jewelery theft was defeated
The insured in Honol was a contractor. He supported himself excellently by deceiving his customers. The insured's most lucrative plan was an electronic vermin killer. It consisted of a long wire and a transformer. The contractor trained the wire around a house and connected it to a wall. The unit, charged with low voltage from the transformer, must have repelled vermin. The insured guaranteed that all roaches, flying insects and rodents could not pass the charge in the wire.
When this did not work and a customer called to complain, the insured would ignore the complaints.
Because the tropical Hawaiian climate is an excellent breeding ground for insects, the insured had no shortage of customers. He bought a Ferrari sports car with the profit.
After gaining the trust of the insured's secretary, he confronted the secretary with the results of his investigation. He told her he knew the assessments were not made by the jeweler. He showed her where he had discovered that the typewriter used to write the description of the jewelry was different from the typewriter used to write the name of the appraiser. He told her that he liked her and would be very sad if she was involved in helping her boss commit a crime.
She started crying. When he calmed her down, she admitted that she had written down all the descriptions and values of the jewelry. Her boss, the insured, took the bullet out of the IBM Selectric typewriter and smashed it under his shoe. When asked, she would say that his children had the typewriter broken when they played with it. The adjuster thanked her, paid for the lunch and suggested she get a new job. He told her that he would do what he could to keep her away from criminal problems.
The claim was denied and the insured was eventually convicted of fraud.
© 2022 – Barry Zalma
Barry Zalma, Esq., CFE, now limits his internship to the position of insurance consultant specializing in insurance coverage, handling claims, bad faith and insurance fraud almost equally for insurance policyholder.
He practiced law in California for more than 44 years as an attorney for insurance coverage and claims management and more than 54 years in the insurance industry.
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You can contact Mr. Zalma at https://www.zalma.com, https://www.claimschool.com, email@example.com and firstname.lastname@example.org. Zalma is the first recipient of the first annual Claims Magazine / ACE Legend Award.
The podcast "Zalma On Insurance" may be of interest at https://anchor.fm/barry-zalma; you can follow Zalma on Twitter at; you should watch Barry Zalma's videos at https://www.youtube.com/channel/UCysiZklEtxZsSF9DfC0Expg/featured; or videos at https://rumble.com/zalma. Go to Insurance Claims Library – https://zalma.com/blog/insurance-claims–library/ The last two issues of ZIFL are available at https://zalma.com/zalmas-insurance- fraud -letter-2 /