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Police make second arrest in Wilmington insurance fraud case

On Behalf of | Jan 26, 2012 | White Collar Crimes |

An alleged insurance fraud scheme that took place in Wilmington, North Carolina, has been the subject of several news stories in recent weeks. On Jan. 19, the Department of Insurance announced the second arrest pertaining to the purported scheme. A 25-year-old Wilmington man was charged with insurance fraud, as well as corporate malfeasance and obtaining property by false pretense.

According to investigators, the man had worked as an assistant branch manager at Time Financing Service. Investigators believe the man assisted the Time Financing branch manager — a 49-year-old man who was arrested on Jan. 17 — in filing false claims concerning repossessed vehicles. The charges against the assistant were filed on Jan. 18, and his arrest is part of a two-year investigation conducted by the Department of Insurance. The Department of Motor Vehicles and Theft Bureau as well as the North Carolina Banking Commission and both the Brunswick County and Wilmington Police departments were also involved in the investigation.

Insurance fraud of any capacity is considered a serious crime and can result in substantial legal consequences. The 25-year-old man in question surrendered to police at the New Hanover County Courthouse on Jan. 18. Members of the Wilmington Police Department placed him under arrest, and he was later released under a $5,000 unsecured bond.

The Department of Insurance employs a number of law enforcement officials who are assigned the duty of prosecuting claims for bail bonding and insurance fraud. Since the current insurance commissioner took office in 2008, 575 arrests have been made pertaining to insurance fraud in the state of North Carolina. What this means is that North Carolina officials take insurance fraud very seriously. Before facing such charges in court, it is imperative that a person have a clear understanding of his or her legal rights.

Source: Insurance News Net, “Second Arrest in Alleged Insurance Fraud Scheme in Wilmington,” Jan. 19, 2012


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