Monday, August 29, 2011

Insurance Fraud is a Serious Charge with Far-Reaching Consequences

Despite the prevalence of insurance fraud convictions in the news, many continue to file false claims, overstate their losses, and utilize various other methods for attempting to defraud insurance companies.

Although lengths of incarceration for insurance fraud convictions are not typically as serious as sentences for violent crimes, being convicted of insurance fraud utterly destroys one's reputation, especially in the business community.

Take for instance the recent convictions of those involved with an insurance fraud scheme in Rhode Island. Because of fraudulent insurance claim, Lori Sergiacomi received a sentence that includes confinement to a halfway house, home confinement, 200 hours of community service, fines, orders to pay financial restitution, and more. Two others were convicted as a part of the scheme

"...the judge ordered Robert Ricci, 50, to spend four months in home confinement for his role in the fraud. Ricci was hired by Sergiacomi to repair her roof after it was purposefully damaged to look like it had been hit by a rain and wind storm. Ricci is a former North Providence Town Council president." - http://www.insurancejournal.com/news/east/2011/08/29/212721.htm

Although house arrest, fines, legal fees, and court costs are serious punishments, the biggest issue is that Ricci lost his job and ruined his reputation. Here is a person, an elected public servant, who threw his career away by making a bad decision. Oftentimes innocent parties are caught up in these schemes as well.

Peter J. Scuderi, a Philadelphia Insurance Fraud Lawyer, has defended many individuals charged with insurance fraud. Clients have relied on his experience and legal insight to defend against criminal charges. He understands the importance of fighting hard to protect the reputation of his clients.

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