What You Should Know About Insurance Fraud
As a well-practiced criminal defense attorney in Texas
, Henry Wade of The Wade Law Firm has had a lot of criminal cases pass before him, both from his time as a lawyer and as a judge. And according to Wade, insurance fraud is, most simply put, making up an insurance claim when nothing actually happened.From a young age, children are taught the value of telling the truth. In fairy tales, lies are distinguished with a growing nose, as in Pinocchio. And, no matter what story is, the good guy always emerges as the victor. Yet, somewhat instinctively, it seems like human nature to lie. Sometimes the lies are small and cause no harm. Other times the lie is drawn out and carefully planned, used for personal gain.
While the average person probably wont ever get caught in such a scheme, the networks of people who do commit insurance fraud are costing companies millions of dollars every year, and are driving up premium rates for everyone. Instances of health insurance fraud, car insurance fraud and home insurance fraud are quickly on the rise.
Penalties for Committing Insurance Fraud
Insurance fraud is a crime on both the civil and criminal level, which means that not only will you have to pay hefty fines upon your conviction, but you can also be sentenced to complete a prison term. Medical insurance fraud, for example, is considered a federal crime.
The current administration is working to tighten the laws regarding insurance fraud. And, according to The Washington Post, by the end of 2009, President Obama is expected to sign an executive order that will center on eliminating government waste and fraud, particularly in Medicare and other benefits programs.
As more groups come together to rally against enforcing stricter laws, that would not allow people to so easily receive money on the basis of false claims. And the sentencing for these crimes has increased as well, with most of the convicted serving actual jail time.
Serious Criminal Offense
Even if you never have committed forgery, you can still end up paying for the money insurance companies mistakenly pay. According to the nonprofit group Coalition Against Insurance Fraud, an organization that prides itself as being a national clearinghouse of fraud information, $80 million a year is stolen due to insurance fraud. This correlates to higher premium rates for every insurance policy holder.
If you find yourself being investigated or accused by an insurance company for fraud, or the police, you should contact an experience criminal defense attorney in your area who can help you gather the information you need and prepare you for any interrogations or court dates.
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