Denver Insurance Fraud Lawyer
Like most other white-collar crimes, insurance fraud claims are often subject
to lengthy investigations before a person is actually indicted on a charge
or actually charged. Should you find yourself subject to any such investigation,
it’s important you get in touch with an attorney experienced in
this practice area ASAP.
Contact the Law Office of Kevin Cahill for skilled representation and guidance. Call
(720) 548-2990 today.
Insurance Fraud: All Types of Insurance
There is no single sector of the insurance market that is free from fraud
or the potential for fraud. Additionally, companies who sell insurance,
insurance consumers and those who benefit from insurance claims can potentially
be under investigation for fraud or may have committed fraud.
It is important to understand that there are two common classifications
of insurance fraud: one known as soft fraud and one known as hard fraud.
These classifications are further defined as:
Soft fraud: When a consumer, homeowner or anyone who is eligible to place a claim
inflates the amount of the actual claim. An example of this would be someone
who places a claim against their rental insurance and inflates the value
of property stolen. In these cases, the claimant has a legitimate claim,
they simply inflate the amount of the loss.
Hard fraud: This type of fraud involves placing an insurance claim when there has
been no genuine loss or reason for filing a claim. For example, faking
someone’s death, an injury or a robbery are examples of some of
the actions that may be taken. On a larger scale, physicians who bill
Medicaid or other health insurance companies for services that were never provided.
The Cost of Insurance Fraud
According to the Federal Bureau of Investigation (FBI) on average, a consumer
could be spending as much as $700 annually to cover the cost of fraudulent
This does not take into consideration any health-care related insurance
fraud which was estimated to be $3 trillion in 2014.
Any charges of insurance fraud are pursued aggressively; while the investigation
may be lengthy, officials will not stop investigating until they are certain
they have the basis for filing charges of they have completely proven
there was no wrongdoing.
Colorado Insurance Fraud Penalties for Convictions
Under the laws of Colorado, specifically C.R.S. 18-5-211, charges of insurance
fraud will be considered a Class 5 felony. Under Colorado sentencing laws,
a Class 5 felony is subject to up to five years in prison as well as fines
of up to $100,000. Under federal laws, any conviction of a federal case
of insurance fraud is subject to jail time of up to five years as well
as associated fines.
Are You Under Investigation or Being Questioned by an Insurance Adjuster?
You may have been approached by an insurance investigator asking you questions
about a medical insurance claim, a worker’s compensation claim or
a homeowner’s insurance claim. Typically, this may not raise any
“red flags” particularly if you believe you have done nothing
improper. However, if this is the case, you may wish to consult with a
Denver criminal defense attorney right away before you answer too many
The adjuster may be conducting an investigation with the sole intent of
eventually filing insurance fraud charges against you. The sooner you
contact a defense attorney, the sooner they can find out what the problems
are and help address them. Oftentimes, an attorney can help stop an investigation
or ensure there is no indictment.
Call Our Insurance Fraud Attorneys Today – Free Consultations
Sometimes when a person finds out they are being investigated for a “white
collar” crime, they believe since they have done nothing wrong,
they do not need legal help. However, it is important to remember you
have certain rights while under investigation and typically, since you
are uncertain of those rights, you could be providing information that
is unnecessarily incriminating yourself.
If you suspect you are under investigation or facing imminent charges,
call an experienced Denver fraud defense lawyer at
(720) 548-2990 today!