As reported Insurance Journal,
The frauds in insurance sphere are not a surprise nowadays. So Wisconsin insurance agency executive was condemned for five years in prison for a fraud schemes. Timothy Mathwich the head of Manson Agency Inc. was suspected in connection with a nearly $2 million bank fraud scheme, and also with a mail fraud scheme. More then $5.6 million was obtained illegally with the help of the insurance embezzlement scheme.
Timothy Mathwich cooperated with some other persons, for instance, David Schofield and Susan Brockman. Together they created the insurance scheme that helped to sell forged insurance premium financing notes for the River Valley Bank.
Their scheme was the following: they prepared insurance premium that financed notes in the names of Manson customers who had not requested financing, forged the customers’ signatures on the notes. After that they sent the forged notes to River Valley Bank.
After analyzing the following situation it was found out that the River Valley Bank lost more than $1.9 million for the period from February 2008 to December 2008.
He was also sentenced to three years of supervision following his release. This case was investigated by the Wausau office and then it was assigned to Grant C. Johnson.
As reported Insurance Journal,
The so long-awaited healthcare law minimum benefits were issued on Wednesday. They’ll be legal in 2014. Some new proposals were added to the list. It is supposed that they would help all the states and insurers to prepare for new online health insurance marketplaces, so-called healthcare exchanges.