San Jose father and son charged in alleged $4 million insurance fraud scheme [Bay Area News Group]
San Jose Mercury News (CA)
A San Jose father and son duo were charged for their alleged participation in a $4 million scheme in which they avoided paying worker’s compensation insurance premiums for their employees, according to the Santa Clara County District Attorney’s Office.
Edgardo Cabrales Sr., 61, and his son, Edgar Cabrales Jr., 36, were each charged with five counts of insurance fraud. Prosecutors said both men are owners of two San Jose commercial cleaning companies: Pine Building Maintenance and Network Facility Management.
The DA’s office said the pair failed to report employee wages in order to save $4.2 million on insurance premiums, securing insurance for only some of the workers at Pine Building maintenance, and failing to get any insurance for employees at Network Facility Management “even though most of their business was operated through NFM.”
Related Articles
“Workers’ Comp insurance is money that is used to help injured employees get medical care and stay financially afloat while they recover,” District Attorney Jeff Rosen said. ”People who illegally avoid paying proper premiums are cheating the insurance companies, their workers, and every business that plays by the rules.”
P&C Insurance Software Market May Set New Growth Story : Pegasystems, Majesto, Tigerlab, Insurance Sys
Taxi Insurance Market to Witness Huge Growth by 2028 : Metlife, AXA, AIG: The Global Taxi Insurance Market to witnessed good recovery in growth post first half of 2022 and is projected coverup market sizing during the forecast period (2022-2028).
Advisor News
- Pay or Die: The scare tactics behind LA County’s Measure ER tax increase
- How to listen to what your client isn’t saying
- Strong underwriting: what it means for insurers and advisors
- Retirement is increasingly defined by a secure income stream
- Addressing the ‘menopause tax:’ A guide for advisors with female clients
More Advisor NewsAnnuity News
- MassMutual turns 175, Marking Generations of Delivering on its Commitments
- ALIRT Insurance Research: U.S. Life Insurance Industry In Transition
- My Annuity Store Launches a Free AI Annuity Research Assistant Trained on 146 Carrier Brochures and Live Annuity Rates
- Ameritas settles with Navy vet in lawsuit over disputed annuity sale
- NAIC annuity guidance updates divide insurance and advisory groups
More Annuity NewsHealth/Employee Benefits News
- Health insurance for famers
- Business People: General Mills veteran Dana McNabb named COO
- CONFEREES ADOPT COMMERCE PACKAGE WITH MEAT RAFFLE INCREASE, NO INSURANCE LOOPHOLE FIX
- GLP-1 Drug Costs Cited as Heights Schools Hike Taxes and Cut Staff
- Pay or Die: The scare tactics behind LA County’s Measure ER tax increase
More Health/Employee Benefits NewsLife Insurance News
- 2025 Insurance Abstracts
- AM Best Affirms Credit Ratings of Berkshire Hathaway Life Insurance Company of Nebraska and First Berkshire Hathaway Life Insurance Company
- Generational expectations: A challenge for the industry
- Greg Lindberg asks NC judge for no jail time in bribery, fraud cases
- National Life Group Names Brenda Betts to Its Board of Directors
More Life Insurance News