Insurance Hinges on Underlying Integrity
We don’t often post or comment on current events, but the attached article is noteworthy, relevant, and a cautionary tale about what can happen when there’s material misrepresentation and fraud involved in insurance matters.
The article (full story in link below) speaks to the rise and fall of a young, up-and-coming entrepreneur who got mixed up in the wrong crowd and began using his wealth and expensive “toys” in schemes to defraud insurance carriers. In fact, given the nature of the events in question, you may have already heard about some of these stories. A few of the claims involved a Citation, a Baron, a Lamborghini, a Learjet, and even a yacht in Hawaii. The highly publicized and grand “losses” eventually caught the eye of the authorities, bringing the high-flying, carefree 32-year-old back down to earth, likely for a very long time.