Teddy Marks, 41, of Morgan Hill, CA, who the California Department of Insurance (CDI) is calling a “key figure” in an organized auto insurance fraud ring, has been arrested on two felony counts of insurance fraud and one felony count of grand theft, according to CDI.
Bail has been set at $1 million. If convicted, Marks could face up to five years in prison and $50,000 in fines for each insurance fraud count, and up to three years in prison and a $10,000 fine for the grand theft count.
A second suspect is outstanding and believed to be in New Jersey. Louis Miller, also known as “Skippy,” also has a $1 million arrest warrant issued by the Santa Clara County District Attorney.
“Marks and Miller are believed to be the patriarchs of a criminal family that specializes in auto insurance fraud,” CDI said in a press release.
An investigation revealed that Marks, in collusion Miller, conducted a staged auto-versus-pedestrian collision in the parking lot of Artichoke Joe’s Casino in San Bruno, according to CDI.
During the claims process Marks and Miller denied knowing each other, and after the collision, Marks, the driver, and Miller, the pedestrian, proceeded to defraud the insurance carrier and three different hospitals in excess of $200,000, according to CDI.
“Insurance fraud directly affects each of us-the costs to the insurance companies are passed along to consumers through higher insurance premiums,” Deputy District Attorney Charlotte Chang, who prosecuted these cases, said in a statement.
Visit our website at http://www.alliedbrokers.com/ for information about all the types of insurance we offer. Or call 1-888-505-7988 for a free rate quote.