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Published: March 24, 2022, 4:12 p.m.

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Murder of Homeless Man Pays Fraudsters  

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https://zalma.com/blog

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Barry Zalma, Esq., CFE presents videos so you can learn how insurance  fraud is perpetrated and what is necessary to deter or defeat insurance  fraud. This Video Blog of True Crime Stories of Insurance Fraud with the  names and places changed to protect the guilty are all based upon  investigations conducted by me and fictionalized to create a learning  environment for claims personnel, SIU investigators, insurers, police,  and lawyers better understand insurance fraud and weapons that can be  used to deter or defeat a fraudulent insurance claim.  

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What Happens When the Market Drops   George and Adam were partners. Their business, consulting with aerospace  manufacturers on preparing the reports required by the Department of  Defense, had been immensely successful. For the first five years of  business their billings exceeded $3,000,000 a year.  They lived well. Like the average Americans they were, they spent every  dollar they made and about 10% more than they made. They had no savings.  They did have large credit card balances.  Because they knew how important each was to the success of the  partnership, they purchased Key man life insurance policies with limits  of $3,000,000 each from Trustme Life Insurance Company.  

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In 2008 the bottom fell out of the aerospace industry with the election  of President Obama who cancelled space programs. Their customers stopped  hiring consultants. The billings of the partnership shrank like Alice  after she bit the mushroom.  A Plan to Profit From Murder  Adam called Fuzzy into Adam\\u2019s office at 8:00 that night. He asked Fuzzy  to sit in his desk chair and shot him in the face with a 12-gauge  shotgun at close range. Adam discharged one barrel on each hand to  eliminated all of Fuzzy\\u2019s fingerprints. 

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 Adam then placed his wallet with all its money, credit cards and other  identification in the inside coat pocket of his old suit, removed  anything that might identify Fuzzy as being someone other than Adam and  then drove to the airport in George\\u2019s 750 IL BMW leaving the Jaguar in  the garage. At the airport, Adam, using cash, purchased a ticket in the  name of Adam Smith to New Orleans, Louisiana. He had already purchased,  from street vendors on Hoover Street in Downtown Los Angeles a driver\\u2019s  license in the name of Adam Smith with a birth date five years earlier  than Adam\\u2019s true date of birth, a social security card, a MasterCard and  Visa all issued in the name of Adam Smith.  

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The Crime Fails   

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Adam and George were arrested and tried for the murder of Fuzzy as well  as several counts of insurance fraud. The testimony of the young lady,  the presence of Adam and the Los Angeles Airport recording of George\\u2019s  license plate on entry and exit from the airport parking lot made their  defense impossible. They were convicted.  Adam and George are now spending the remainder of their lives in the  State Penitentiary.  The insurer recovered $4,000,000 of the $6,000,000 (George and Adam had  lived well for that year and a half) and paid the lustful young woman a  $400,000 reward. She lived happily ever after.  

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(c) 2022 Barry Zalma & ClaimSchool, Inc.

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