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Insurance Fraud Costs Businesses 1.3 Million Euros

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Today, an incident of insurance fraud resulted in thirteen people's arrest.

Two attorneys, four police officers and an insurance adjuster are among the guilty, in a scam that sacrificed an approximated 1.3 million euros to the twenty-seven businesses involved.

The Greek Police Internal Affair Department's investigative report is a total of 25,000 pages and includes 550 fake claims, that amount to as much as $250,000 euros each. According to the investigation, the hoax was directed by a car and paint store owner in Trizonia, Greece. The 44-year-old criminal posted web ads offering fast settlements, low cost repairs and supplied insurance companies to customers. After signing up, the fraudsters would create false claims with police assistance, who forged accident documents.

Additionally, the corrupt group would write fabricated statements and fake victim's signatures. They could then file a claim and receive insurance money from the provider. The insurance adjuster who has been convicted, is thought to have concocted tons of fake out-of-court settlements.