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Federal authorities have arrested Zhan Petrosyants, accusing him of running a massive no-fault auto insurance fraud ring that funneled tens of millions of dollars through fake medical claims and money laundering.
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A New Bedford, Massachusetts couple admitted in federal court in Boston yesterday that they carried out a scheme to cheat their own insurance clients—using their company, BL Insurance Brokerage, LLC, as the vehicle for the fraud.
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Two years ago, Rainier Miguel Salas and two licensed Florida insurance agents were charged in a scheme to sell insurance agent licenses—allegedly operating through an illegal 'licensing school' in Miami that helped unqualified applicants bypass the system and obtain credentials they never earned.
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It all began with 'door knockers' — roofing crews showing up uninvited, assuring homeowners they could replace their roofs without paying much, if anything, upfront.
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State Farm Mutual Automobile Insurance Co. is facing a lawsuit that claims the company misled customers and unfairly profited by selling insurance products from PHL Variable Insurance Co.—a firm regulators say is grappling with a staggering $2.2 billion capital deficit. The alleged shortfall reportedly resulted in policyholders receiving payouts far below what they were originally promised, raising serious questions about transparency, accountability, and who ultimately pays the price.
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Oscar Rafael Ruiz spent 2023 and 2024 globe-trotting, losing luggage again and again—and claiming close to $300,000 from travel insurers along the way.
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A Maryland couple has been sentenced to 12 and 4 years in prison, respectively, following their convictions for orchestrating a $20 million insurance fraud scheme.
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A Maryland woman has been indicted on two felony theft charges for allegedly misappropriating funds from a general contractor and the state’s backup auto insurance provider.
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In recent weeks, insurance fraud investigators across states from North Carolina to Florida have been active, leading to the arrests of firefighters, suspected auto-crash scammers, and a man who allegedly filed a false claim after his car fatally struck a pedestrian.
Federal authorities have arrested Zhan Petrosyants, accusing him of running a massive no-fault auto insurance fraud ring that funneled tens of millions of dollars through fake medical claims and money laundering.
