Insurance fraud reportedly costs California over $15 billion each year, and according to the National Insurance Crime Bureau, other than tax evasion, insurance fraud is the second most costly crime in the country. Based on these stats, its no surprise that insurance fraud is treated as a serious crime by state and federal authorities.
Potential Penalties of Insurance Fraud
Insurance fraud convictions involving losses or injuries typically result in felony charges.
Examples of insurance fraud that involve losses or injuries include:
- Car accident claims;
- Work accident claims; and
- Housing insurance claims.
Consequences of Insurance Fraud
If someone is convicted of an insurance fraud felony, he may face serious consequences such as:
- Imprisonment for two, three, or five years; and
- A fine not exceeding $50,000, or double the amount of the fraud, whichever is greater.
Suppose someone didn’t commit fraud but assisted or conspired with someone to commit fraud.
In this scenario, the conspirer may face the following consequences:
- Imprisonment for two, three, or five years; or
- A fine not exceeding $50,000, or double the amount of the fraud, whichever is greater; or
- Both the imprisonment and fine; or
- Imprisonment in a county jail for less than one year; or
- By a fine of not more than $10,000; or
- Both the county jail sentence and the fine of not more than $10,000.
You could be facing multiple years in prison and tens of thousands of dollars in fines if you are found guilty of your fraud charges, but help is just a phone call away.
Have You Been Accused of Insurance Fraud?
Regardless of what you think you know about your case, consulting a recognized fraud attorney is the first step in fighting for your rights. Attorney George Gedulin has experience handling cases of multiple counts of insurance fraud and is ready to defend your case.
Call (858) 281-4605 now for a free consultation concerning your insurance fraud case.