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...he obtained from his business, an escort service. He explained he kept the cas...recorded at the Department of Motor Vehicles were filed by the seller and he h...

... and to examine the insured under oath. At examination under oath, the insured proved himself to be a facile liar-but his skill at lying under oath was no match for the facts counsel had obtained from the SIU investigator. Counsel led the insured down a path of lies: The insured claimed to have purchased the vehicle for $100,000 cash, which he obtained from his business, an escort service. He explained he kept the cash at home because it was earnings he did not wish recorded in a bank account. He produced a bill of sale purportedly signed by the neighbor reflecting a $100,000 sale. He produced the ownership certificate and the registration establishing that the vehicle existed. He claimed to have forgotten to bring the keys to the vehicle with him. Counsel then ... Management Human Resources Selling Legal and E&O Technology Life/Financial Services Glossaries Management Resources & Links Categories Popular Recent All Back The Phantom Rolls Royce 5/6 /2013 12:00:00 AM by CompleteMarkets Editor , Barry Zalma This content has not been rated yet. In California and several other states, before a car can be insured, the agent must photograph the car and its vehicle identification number. This regulation is an effective weapon against fraudulent auto-theft claims. But in one case, an insured managed to purchase Physical Damage insurance on a Rolls-Royce before the regulation was fully effective. His planning was flawless. He was thwarted in his efforts only because of the actions of a dedicated, thorough investigator. To start his plan, the insured went to a Beverly Hills classic automobile ...