| Message |
Author |
|
 Posted: Thu Feb 12, 2009 7:19 pm Post subject: What could be the proper punishment? |
|
|
how much fine will be levied to any person who has made fraudulent activity,
& presented fake receipts to the clients for insurance premiums and later on clients have came to know that all the receipts which were supplied were fake.
Now, how much punishment can be expected to be given to that person by the court? 
_________________
www.Parthaconsultancy.info
Its my personal website. |
|
amit
Senior member
Joined: 25 Jan 2009
Posts: 366
8.18 Dollars($)
|
|
| Posted: Fri Feb 13, 2009 6:17 am Post subject: |
|
|
First of all, I hope this isn't about something you personally have done. 
Secondly, it completely depends on the location and the severity of the offense(s). You would need to give us the location of the alleged violations and some specifics (without getting tooooo specific) about what happened. 
Good luck.
InsTeacher  |
|
InsTeacher
Moderator
Joined: 13 Aug 2007
Posts: 896
Location: Oregon, USA
41.23 Dollars($)
|
|
| Posted: Fri Feb 13, 2009 7:28 am Post subject: |
|
|
| Yup, the punishment would depend upon the state where this incident has taken place. Moreover, the agent (I presume its the agent who has committed the fraud) would get his business license canceled along with facing jail term. Things can go really scary for the person in question. |
|
simon
Senior member
Joined: 28 Sep 2005
Posts: 526
90.04 Dollars($)
|
|
| Posted: Fri Feb 13, 2009 11:39 am Post subject: |
|
|
Hi..I've come across a piece of news from North Dakota that reveals how an insurance agent who allegedly stole $7 million from his clients have been punished with eight years imprisonment. They say that he has 30 victims and that he was doing business though he was not registered.
Crossbreed
_________________
Register Now to have your Insurance queries solved. |
|
Crossbreed
Guest
|
|
| Posted: Fri Feb 13, 2009 2:58 pm Post subject: |
|
|
| I can not see how the guy would have gotten away with it. One of those thirty victims had to have some type of accident with in the time they done business with this guy. What happened when the claims were not paid? If they were paid and he was unlicensed then they still got their insurance and in fact only dfrauded by not having the license to sell insurance. |
|
fireyone
Senior member
Joined: 07 Jan 2008
Posts: 1988
0.06 Dollars($)
|
|
| Posted: Sat Mar 21, 2009 1:27 pm Post subject: |
|
|
well, i think it is very unlikely that an insurance agent can fool his client..these days the customers and clients are very clever and they know how to protect themselves from these kind of anti-social people..
But in the rare event that this happens and client comes to know this, he is very much justified to go to court and appeal against him..
And coming to strictness of punishment, it depend on the country where the fraud has taken place and the laws of the country
_________________
INDIAN_TUSHAR
Earn Money Here..
www.indiancashmaker.in |
|
tusharagg87
Senior member
Joined: 23 Dec 2007
Posts: 207
Location: india
12.15 Dollars($)
|
|
| Posted: Sat Mar 21, 2009 3:40 pm Post subject: |
|
|
tusharagg87
i accept that clients have become very clever but i need to remind you that there are some literate, clever,educated guys who knows so much about the world but still they are very reluctant to come foreward and think that it is shear waste of time to lead the front and they think that it is better to sort out the issue out of the court.
even though they know the laws it is really not possible for them to lead a long battle in the court due to their shear unwillingness to lead the battle.
i won't think it will really resolve the issue.
_________________
www.Parthaconsultancy.info
Its my personal website. |
|
amit
Senior member
Joined: 25 Jan 2009
Posts: 366
8.18 Dollars($)
|
|
| Posted: Sun Mar 22, 2009 6:44 am Post subject: |
|
|
i agree with you Amit...these are those guys who didn't want the world to know that such intelligent, literate guys can also be made fool...
Due to their this problem or mentality, whatever you say, many frauds that could have been prevented take place and more loss to the other customers..
_________________
INDIAN_TUSHAR
Earn Money Here..
www.indiancashmaker.in |
|
tusharagg87
Senior member
Joined: 23 Dec 2007
Posts: 207
Location: india
12.15 Dollars($)
|
|
| Posted: Sun Mar 22, 2009 10:56 am Post subject: |
|
|
| Quote: | | Due to their this problem or mentality, whatever you say, many frauds that could have been prevented |
do you think that the NGO (non govermental organisations ) should come foreward and then they should encourage the people for these issues.there are so many NGO's (i am talking about the good one) currently working with the sole motto of solving or preventing these types of frauds.so those who have some contribution to make they can surely join these NGO's whichever is nearby their residence. 
_________________
www.Parthaconsultancy.info
Its my personal website. |
|
amit
Senior member
Joined: 25 Jan 2009
Posts: 366
8.18 Dollars($)
|
|
| Posted: Mon Mar 23, 2009 2:25 pm Post subject: |
|
|
it is a good idea but again we come at a dead end...they need to know that fraud has taken place with some one in their locality..they need to know the full story..than only they can take any action and can hold of the culprit
_________________
INDIAN_TUSHAR
Earn Money Here..
www.indiancashmaker.in |
|
tusharagg87
Senior member
Joined: 23 Dec 2007
Posts: 207
Location: india
12.15 Dollars($)
|
|
| Posted: Fri Mar 27, 2009 1:55 pm Post subject: |
|
|
I think each state has it’s own laws for such frauds.. It’s quiet possible that the insurance agent can fool his client if less educated or less unaware about the insurance policy procedures.
_________________
ampminsure rocks !! |
|
horizon
Preferred member
Joined: 24 Nov 2008
Posts: 129
12.45 Dollars($)
|
|
| Posted: Fri Apr 03, 2009 6:58 am Post subject: |
|
|
I agree that each state has their own laws against these types of criminals. But in India, laws have never been so strict that people are afraid of the. Moreover, illiterate and less educated people are not at all difficult to find in India. And being educated does not guarantee that the person is aware of what is happening around him.
India is a good target of criminals and fraud insurance agents but the scenario is changing pretty fast and frauds are coming into limelight which means people are made aware of these things
_________________
INDIAN_TUSHAR
Earn Money Here..
www.indiancashmaker.in |
|
tusharagg87
Senior member
Joined: 23 Dec 2007
Posts: 207
Location: india
12.15 Dollars($)
|
|
| Posted: Sat Apr 04, 2009 5:22 pm Post subject: |
|
|
| Depending on how much the damages are. Based here in our place, the owner is obliged to return what is invested in the company. Therefore, the owner needs to declared all his assets to convert into cash and be given to those who invested. And then, other penalties will be discuss after the investigation to find out if there are more charges to be filed against the owner. |
|
dritz
New member
Joined: 04 Apr 2009
Posts: 36
13.96 Dollars($)
|
|
| Posted: Sat Apr 04, 2009 5:54 pm Post subject: |
|
|
| Quote: | | the owner needs to declared all his assets to convert into cash and be given to those who invested. |
hmmmm, sounds interesting. Dritz, can you throw more light on this.
_________________
ampminsure rocks !! |
|
horizon
Preferred member
Joined: 24 Nov 2008
Posts: 129
12.45 Dollars($)
|
|
| Posted: Sat Apr 04, 2009 6:35 pm Post subject: |
|
|
| ^^ this is based here in our country, i dunno if it applies to others. Its like an insurance for another insurance. If a company would turn to be scam, there is a minimum payment that must be given to the investors, damage fees, just like that. Let say that the company itself has insufficient funds to pay for those damages. Therefore, all the assets of the owner must be surrender to the public and convert it into cash. Not all assets must be sold, it must be equalize with the amount of total damages. But if the case is that all his property came from investor's funds, all of them must be surrendered. |
|
dritz
New member
Joined: 04 Apr 2009
Posts: 36
13.96 Dollars($)
|
|
