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Bogus Insurance Certificates Used in Scheme
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January 28, 2009
A Kentucky man who defrauded homeowners and lenders CitiFinancial and American General in an insurance fraud scheme faces up to 200 years in prison on 10 counts of mail fraud.
David Thomas, 66, pleaded guilty to issuing fake insurance certificates from his Greenville, S.C.- based insurance office, North American Financial Services Inc., and misrepresenting himself as an authorized representative of Lloyd’s of London.
At closing, lenders sent Thomas a check for the homeowner’s first year insurance premium but all Thomas provided was a fake certificate leaving the homeowner’s uninsured.
Read story at The Times Tribune
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