Philadelphia Insurance Businesses said it is been vindicated in its investigation and denial of a fraudulent claim filed by an East Texas motorist for the 2009 crash of his Bugatti Veryon, following his guilty plea this week in the case United States of America v. Andy Lee Home.
The Bala Cynwyd, Pennsylvania-based insurer stated it had committed in depth resources more than the past 4 years to fight the $ 2.2 million fraudulent claim filed by Andy Lee Residence of Lufkin, Texas, for the intentional destruction of the luxury sport vehicle.
The 2009 crash, which was captured on video by a passing motorist and viewed much more than 5 million instances on YouTube, drew national attention. Philadelphia Insurance coverage stated its claims investigators had suspected fraud from the beginning and steadfastly denied the claim.
Authorities stated Property initially claimed that he was reaching for his cell telephone when the auto swerved into water close to Galveston, Texas. The salt water flooded the engine, ruining the Bugatti.
Philadelphia Insurance coverage stated it commenced its investigation, secured witness statements, and received an anonymous get in touch with relating to the scheme developed by Residence to destroy the automobile in exchange for the insurance coverage proceeds.
In lieu of settling the claim, Philadelphia Insurance coverage filed suit in 2010 in the U.S. District Court for the Southern District of Texas searching for to not only rescind the insurance coverage policy issued to Residence, but also sought damages for breach of the insurance coverage contract and fraud.
The insurer mentioned the FBI ultimately got involved and filed a federal lawsuit against House, resulting in his guilty plea on August 26 to wire fraud. Residence faces up to 20 years in federal prison and the U.S. Attorney in the case has recommended that he pay restitution to Philadelphia Insurance coverage.
“We owe a excellent deal of thanks to the witnesses who supplied video and statements, which allowed the truth to come to light, as nicely as to federal and nearby enforcement for their investigations,” said Bill Benecke, executive vice president and chief claims officer at Philadelphia Insurance.
“Fraudulent claims adversely effect all of our customers and it is our fiduciary responsibility as an insurance coverage carrier to defend our policyholders,” Benecke mentioned.
Source: Philadelphia Insurance coverage Organizations
Philadelphia Insurance Vindicated in YouTube Bugatti Crash Case
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