Former union official, broker charged in $6.6 million fraud
Associated Press
NEWARK, N.J. (AP) — Prosecutors say a former union official and an insurance broker have been charged after they defrauded a health care plan of about $6.6 million.
Sergio Acosta, the former president of United Auto Workers Local 2326, and broker Lawrence Ackerman, were charged Monday with conspiring to defraud Horizon Blue Cross Blue Shield and the union's own plan.
Federal prosecutors say Ackerman, of Old Tappan, created two shell companies to market insurance to hundreds of people from across the country not employed by them. They say Acosta, of Passaic, let some of those people stay on the union's plan after Horizon discovered they weren't eligible.
It wasn't immediately clear if the men had attorneys to comment on their behalf.
They face up to 10 years in prison and a $250,000 fine.
Translating health coverage at St. Mary’s
Sen. Walker Joins Fox News to Talk About RSC Obamacare Repeal & Replace Plan
Advisor News
- Semi-retirement: helping clients balance flexibility with financial security
- The 6X Formula for leveraging content marketing with AI
- When a home becomes difficult to insure, the plan changes
- The inheritance gap: Helping clients plan for money that hasn’t arrived
- After the midterms: Addressing your clients’ tax concerns
More Advisor NewsAnnuity News
- Athene CEO criticizes offshore reinsurance, risk-taking by competitors
- DOL, trade groups, state AGs file briefs supporting Alcoa in PRT lawsuit
- John Hancock launches new fixed indexed annuity suite
- Annuities to play a larger role in workplace retirement plans
- FHLBank Pittsburgh Announces Results in 2026 Board Election
More Annuity NewsHealth/Employee Benefits News
- Viewpoint: We need Medicare for all
- A 'critical service': Senior centers help local residents navigate complexities of Medicare coverage
- Cost of employer-sponsored health insurance plans rises again, nonpartisan survey finds
- Sen. Baldwin proposes lowering Medicare eligibility age to 50
- SENS. OSSOFF CONTINUING PUSH TO BAN HEALTH INSURANCE COMPANIES FROM DENYING OR DELAYING NEEDED HEALTH CARE
More Health/Employee Benefits NewsLife Insurance News
- AM Best Affirms Credit Ratings of Fubon Insurance Vietnam Co., Ltd.
- Three lawsuits put life insurers’ cost-of-insurance practices under scrutiny
- Military Briefs: November 12-18
- Security Benefit Series B Preferred Stock Dividend Rate Resets to 10.286%
- FHLBank Pittsburgh Announces Results in 2026 Board Election
More Life Insurance News