The 10 Most Shocking Cases of Life Insurance Fraud –

Although life insurance can be very beneficial for grieving family members, many people have tried to cash in on their policies using fraudulent methods, which often have very serious consequences. How many life insurance fraud cases have been tried over time, we may never know. But there are many cases where such policies have gone horribly wrong. Check out these examples of life insurance scams that didn’t go as planned.

10 Most Surprising Life Insurance Cases

1. Fire Damage Life Insurance Scheme

Molly and Clayton Daniels were a proud Texas couple before they devised a plan to collect Clayton’s $110,000 life insurance policy. But why go through all the trouble of dying when you can use standup instead? Of course, it wasn’t long until Molly told the insurance company that Clayton’s life had been taken in a car accident.

Things seem to be going well up to now adults found that Clayton’s “body” was actually that of an 81-year-old woman that the family excavated from a nearby cemetery. Fortunately, Clayton’s death wasn’t difficult to prove, as Molly had just told her 4-year-old son to his new “friend,” who looked suspiciously like Clayton with dyed black hair.

2. “Iron” Mike Malloy: The Boy Who Couldn’t Die

pictures of

One of the most remarkable cases of life insurance fraud began in 1932 when speakeasy owner Tony Marino orchestrated a scheme around a former drunk named Michael Malloy. The plotters, later dubbed the “Murder Trust” by the media, managed to obtain three different life insurance policies from Malloy, which they planned to cash in on in the run-up to his untimely death.

But it turns out Mike is made of tougher stuff than he thought. Over the next several months, the conspirators attempted to poison Malloy numerous times, freeze him to death, and even run him over with a car, but to no avail. It took a full seven months for the men to usher Mike into the afterlife, but their plan was soon revealed. Everyone was rewarded for their efforts with a trip to the Sing Sing electric chair.

3. Crazy Cabbage Truck Caper

photos by Anthony McErlean

In 2009, a British man named Anthony McErlean he decided to make money on his own £520,000 life insurance. He went on to tell the story of the terrible accident that happened to him and was killed by a cab truck while he was traveling abroad in Honduras.

She then pretended to be his wife to pay the requested amount, only to watch her plan come to fruition when her notes were found on his death certificate. Oops!

4. The Dangers of Driving the Dead

photographs by Raymond Roth

Many shocking cases of life insurance fraud involve a partner, which happened to 22-year-old Jonathan Roth. In July 2012, he called 911 to say that his father, Raymond Rothhad been lost in the waters of Jones Beach on Long Island while going for a swim.

After a major air and water rescue operation, there was no sign of the elder Roth, he was presumed dead, leaving his son to collect $410,000. Unfortunately, Raymond’s brilliant plan backfired when he was pulled over for speeding, still alive and well.

5. Dead Man’s Ride

photos by Harry Gordon

No collection of life insurance scam examples would be complete without mentioning an Australian millionaire by name. Harry Gordon. In 2000, Gordon faked his own death, leaving evidence of his death in the form of an empty boat full of champagne bottles. After his wife received insurance money, Gordon used the money to start another life abroad. Later, he met another woman, and he convinced her that she was in witness protection and made her his second wife.

He was traveling in New Zealand when Gordon accidentally ran into his long-thought-to-be-dead brother. Things got worse from there when the brother told his ex-wife about the new one. Authorities uncovered the plot and arrested Gordon, who wrote a book on the matter How I Faked My Own Death And Didn’t Let It Go.

How I Faked My Own Death and Never Got It: The fascinating story of a businessman who was under a lot of pressure, faked his own death, and the incredible chain of events that followed.

6. Tragedy of the Day of Death

funeral and funeral concept - red rose flowers on a wooden box in the church

Raul Pero had it all figured out. How hard would it be to fake his death and pose as his stepbrother to collect the $2 million insurance claim? Things took a turn for the worse, however, when it was discovered that Pero had called the money to ask himself the date he wrote on his death certificate.

After discovering that his grave contained an empty coffin, authorities were able to track down Pero, who had applied for a fake passport in the name of an 18-year-old boy who had died in 1968.

7. Seeing a Doctor After Death

pictures of Ahmad Akhtary

Ahmad Akhtary and his wife Anne decided to cash in on a $550,000 life insurance policy in 2008. Unfortunately, their scheme was not among the well-planned schemes in the books of life insurance fraud examples. Anne said that her husband died in Afghanistan, while she continued to live and work in Gloucester.

The family’s plan went awry when Ahmad turned up for his regular medical check-up, only to be met with questions about why his charts showed he had died six months earlier.

8. Fake Senator Caught Selling Scuba Equipment After “Death”

Photos of Senator David Friedland

Senator David Friedland was not the most popular representative in New Jersey. After evading several federal charges in the early 1980s, Friedland found himself on the radar of the authorities again. It’s the time he decided to go swimming in the Bahamas, only to disappear and be presumed “drowned.”

Understandably, the authorities did not believe this. After years of evading capture, Friedland was caught after several dive shops he started in the Maldives became very successful.

9. Cat-Astrophic Fraud Failure

photos by Evgeniy M. Samsonov

When it comes to shocking life insurance fraud cases, it seems that even cats are off limits. After taking out insurance for injuries sustained in a car accident in 2009, a Washington man named Yevgeniy M. Samsonov decided to seek compensation for the death of his missing cat, Tom.

Samsonov asked for $20,000 to cover his grief over Tom’s death, and also sent two pictures of his dead cow to the insurance company. Unfortunately, a quick Google search revealed that all the images were from Wikipedia.

10. The Curious Case of “The Boat Man”

John's pictures

Among the most famous insurance fraud examples in recent history is the story of John “Canoe Man” Darwin, whose story inspired ITV. list of documents. After faking his death in a boating accident, Darwin posed as a handyman named Karl while his wife obtained life insurance.

The pair moved to Panama, where Darwin lived in obscurity, before returning to the UK in 2007. His claims of six years of amnesia were quickly denied by authorities, who eventually took Darwin and his friends into custody. a woman in prison.

These shocking cases of life insurance fraud are enough to leave anyone with a lot of questions. Read on as we discuss some of the more common ones!

What’s the Biggest Life Insurance Scam?

The robber is in custody

One of the largest insurance fraud cases in history has been unsealed as recently as mid-2022. Federal Grand Jury in Chicago a case 23 different defendants in a major life insurance scheme that resulted in at least $26 million in collections from ten different insurance companies.

What Is The Biggest Scam Known To Insurance Companies?

According to Coalition Against Insurance Fraud, insurance fraud costs Americans billions of dollars every year. Although it can take many forms, three of the most common are:

premium diversion is an insurance fraud scheme in which the insurer keeps the premium instead of giving it to the policyholder. According to FBIthis is the most common form of insurance fraud today.

According to the research of VeriskAuto insurance fraud costs $29 billion every year.

According to NHCAAHealthcare fraud is also a major problem and can cost over $300 billion annually.

How Common Are Fraud Life Insurance Claims?

Approaching bad business

While false insurance claims are not an epidemic, they do happen. A white paper and the Reinsurance Group of America estimates that anywhere from 1-3% of all life insurance products may need to be reviewed or denied.

How Can Insurance Fraud Be Spotted?

A financial fraudster is a man and a woman who get money on the phone

As you’ve learned from the crazy life insurance cases described above, making your own death plan is more difficult than it sounds. In today’s technological age, avoiding detection is more difficult than some criminals think. In the end, most criminals get away with it and continue to live their lives from finances to TV pictures.

Similarly, cases of suspicious death are thoroughly investigated by the authorities, so trying to make someone’s death unnatural like anything else is a very difficult task. Finally, insurance companies now have access to global databases that can detect discrepancies.

Unfortunately, it seems that there will always be people out there who choose to try life insurance scams, always wondering what might happen. But as this interesting life insurance policy fails to show, suicide is not an easy way to make money.

Reviews of Low Life Insurance by Age

Post ID: nYPPkK29v
Group ID: WMweqBQ

The answers below are not provided, commissioned, reviewed, endorsed, or approved by any financial institution or advertiser. It is not the advertiser’s responsibility to ensure that all entries and/or questions are answered.