America’s biggest insurance fraud pros became fraud cons after being convicted for trying to live lives of the rich and shameless. This proves there’s no such thing as an immaculate deception,” said Dennis Jay, executive director for the Coalition Against Insurance Fraud.
Insurance fraud is an $80 billion crime annually – more than twice the gold in Fort Knox and nearly $1,000 per family. Fraud costs consumers billions in higher insurance premiums and stolen savings – plus disrupted lives and even injuries or death.
Rex DeGeorge couldn’t sink straight. The wealthy Beverly Hills lawyer botched a Hollywood-caliber scheme to scuttle his 76-foot luxury yacht off the coast of Italy so he could bilk insurance companies out of $3.5 million.
DeGeorge and a crony spent all night drilling holes in the hull, but couldn’t sink the motor yacht.
