Insurance Fraud 14
Insurance Fraud 14 : (4) Types of Insurance Fraud: (4. 5) Property Insurance: Possible motivations for this can include obtaining payment that is worth more than the value of the property destroyed, or to destroy and subsequently receive payment for goods that could not otherwise be sold. According to Alfred Manes, the majority of property insurance crimes involve arson. One reason for this is that any evidence that a fire was started by arson is often destroyed by the fire itself. According to the United States Fire Administration, in the United States there were approximately 31,000 fires caused by arson in 2006, resulting in losses of $755 million. Example: The Moulin Rouge in Las Vegas was struck by arson twice within 6 years. An example is John Magno who hired accomplices to set fire to his Toronto, Canada hardware store in order to collect insurance money
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