Joseph Potashnik and Associates PC has some of the most experience NYC Insurance Fraud lawyers in New York City. In this blog, we’ll talk about insurance fraud; we will look at a brief definition of terms, and then we’ll get into what exactly constitutes the crime of insurance fraud. Let’s get started.
Now that we’ve defined some of the terms involved, let’s get into what exactly a fraudulent insurance act is. This is an act committed by someone who, with the intention to defraud, presents a written statement as part of an application for the issuance of a claim that contains materially false information,or if they conceal any written statement or other type of physical evidence as part of an application for the issuance of a health insurance policy, or a claim that they know contains materially false information, or they conceal any information about this.
Such a policy will include those that were issued in relation to any plan for health coverage, or services authorized in relation to public health law. For the purposes of this part, an application for a health insurance policy won’t include an application for a health insurance policy or a contract that’s been approved by the superintendent of financial services.
Now that we have all of those definitions out of the way, let’s get into the charges. For insurance fraud in the fifth degree, you’re guilty of this when you commit a fraudulent insurance act. This is punished as a class A misdemeanor.
Same thing here, but with the addition that you’ve wrongfully taken property with a value that’s greater than $1,000. This charge is a class E felony.
Same thing here, but the property is of a value of $3,000. This one is a class D felony.
For this charge, it relates to property that exceeds $50,000, and it’s a class C felony.
For the final charge of insurance fraud, this relates to taking property that has a value of more than a million dollars, and this is a class B felony.
Aggravated insurance fraud is when you commit a fraudulent insurance act and have previously been convicted within the last five years for any offense. This charge is a class D felony.
A fraudulent life settlement act is when, with the intent to defraud, you present a claim for payment or other benefit under a life settlement contract, which you know contains false information about a material fact, or if you try to conceal information that concerns any fact.
Life settlement fraud in the fifth degree is when you commit a fraudulent life settlement act. Life settlement fraud in the fifth degree is a class A misdemeanor.
This charge is if you commit life settlement fraud with property that’s worth more than $25,000. This is considered a class E felony.
Same thing here, but the overall value is $50,000. This charge is a class D felony.
For the second degree charge, it involves property with a value greater than $100,000, and it’s a class C felony.
For life settlement fraud in the first degree, you’re guilty if the property you’ve taken exceeds in value of one million dollars. This is considered a class B felony.
Finally we come to aggravated life settlement fraud. You’re guilty of this when you commit a fraudulent life settlement act and have been previously convicted within the last five years of any offense. This charge is a class D felony.
This guest blog post was written by Ed El Dabe. You can visit his website by going to personal injury lawyers los angeles
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