SAN FRANCISCO (KRON) – An insurance scheme, now has a Bay Area man pleading guilty to federal charges of $250,000.
Kenneth X. Huang, 41-years-old, was federally indicted on six federal charges related to insurance fraud. Investiagators discovered a convuluted umemployment insurance scheme, that’s now steered him to serving prison time.
Huang used a passport, social security card and false employment documents, to obtain numerous insurance policies under different names. After time passed, Huang would then submit claims under each policy receiving $128,783 total, from his fraudulent accounts.
Insurance Commissioner Ricardo Lara says:
“Partnering with insurance companies, state departments and the Diplomatic Security Service, allowed us to stop a complex fraud scheme in its tracks.”
Supplemental unemployment insurance can be obtained to make up a portion of an individual’s income in the event they lose their job.
Investigators found that Huang lied on multiple documents to secure various insurance claims.
Huang is facing two years in federal prison, three years supervised release and an agreement to pay $259,594 in restitution.