Articles Posted in Fraud

Have you lost a loved one recently and been having a difficult time receiving death benefit payment from your insurance provider? If so, you are not alone. As this article in the Bloomberg report suggests thousands of families whose loved ones have died serving our country have not received their entitled benefits from their insurance companies.As an experienced attorney I have helped many families receive money owned to them by insurance companies after the death of a loved one. I have recovered hundreds of thousands of dollars on behalf of client’s who have had legitimate claims but the insurance company was delaying and prolonging the payments by seeking unnecessary documentation all to the detriment of the clients. It is highly recommended to seek an experienced attorney in dealing with recovery of insurance proceeds and death benefits as soon as a claim arises to avoid any unnecessary pitfalls.

It is reported that millions of families have been mislead by their insurers and have been issued a “checkbook” instead of their expected lump sum payout of $400,000 in the case of military death. The insurance company sends these to their insured in lieu of payment and recommends the victim take their time making a decision regarding the money and in the interim they will keep the money in an interest bearing account. What they fail to mention and can only be seen in the fine print is that the money remains in the insurance companies interest bearing account and while they make up to 4% interest the victims families are only paid 1/2%.It is believed that the top insurance companies are now sitting on billions of dollars in unpaid death benefits.A Maryland woman whose son died in Iraq and was given these “checks” expressed shock and disbelief how her own insurance company dishonored her sons memory in this way. Her “checks” were denied in Target and her local grocery store when she tried to shop there and she later realized she needed to ask permission from the insurance company to use her own money.She would have been better off putting her full amount in her own bank and earning up to 4% interest there.This is the reason why it is imperative to have an experienced attorney on your side to read all the “fine print” for you and get you the benefits you are entitled to.
Continue Reading

In what state officials describe as a record-setting verdict, a jury found that a global drug manufacturer misrepresented prices to the state’s Medicaid program and said the company should pay the state and federal government $170.3 million. The verdict concluded a nearly three-week trial in state district court, where lawyers for the attorney general’s office argued that the drug company artificially inflated the costs of medications to obtain more money. Medicaid reimbursed pharmacies at higher rates because of the falsely reported prices, officials said.

The trial reportedly was the first of its kind in the state; similar cases in recent years have settled out of court. The attorney said in a statement that the case makes clear his office will hold accountable those who defraud the Medicaid program, a joint federal and state effort to provide health coverage to needy Americans. “Considering the hundreds of millions of dollars that are at stake, we will continue to vigilantly pursue providers that falsely report prices to defraud the taxpayers,” he said.

Drug company officials said in a statement that they are disappointed by the verdict and are exploring legal and appeal options. “We remain, as always, committed to offering high-quality, lower-cost alternatives for health consumers, including the millions of Americans who participate in the Medicaid program,” said the company’s vice president and chief legal officer.

Investors suing the former owner of the biggest U.S. bank to fail, won certification as a class-action case of their suit alleging shoddy lending practices. Investors suing the former owner of the biggest U.S. bank to fail, won certification as a class-action case of their suit alleging shoddy lending practices. Shareholders who lost money on stock purchased from October 2005 to July 2008 can proceed with claims under a single lawsuit, U.S. District Judge ruled Tuesday, according to court documents. The judge appointed a local-based law firm to lead the plaintiffs’ case. The lawsuit consolidates more than 20 cases filed against the bank that claim the bank secretly lowered lending standards, artificially inflated home-price appraisals and failed to disclose its deteriorating financial condition when the loans began to fail. An attorney representing the defendants didn’t immediately return a voice-mail message seeking comment. The named plaintiffs in the case include a pension plan in Canada, and four other pension groups, according to court documents.
They seek to represent tens of thousands of shareholders who lost money on three types of preferred stock purchased between October 2005 and July 2008 and certain securities offered by the bank in 2006 and 2007. The shareholders argued the case should be granted class-action status because their claims are typical of what other investors experienced and are based on common legal issues. The bank filed for bankruptcy the day after its banking unit was taken over by regulators and sold for $1.9 billion. Before it failed, the bank had more than 2,200 branches and $188 billion in deposits. The judge ruled that a separate federal shareholder lawsuit claiming the bank misled purchasers of $10.8 billion in mortgage-backed securities could proceed. Separately, the bank said the Internal Revenue Service has paid it $4.77 billion of an expected tax refund of up to $5.8 billion. A proposed agreement on dividing that money between the banks and the FDIC requires approval by various parties to the bankruptcy case. If you have been a victim of fraud or misrepresentation in commerical transactions or foreclosure scams contact me at my Rockville or Baltimore offices for a free intial conversation at 1-800-320-0080.