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...intained by the National Insurance Crime Bureau and learned: The insured...it its prosecutorial efforts to major crimes that exceed $1 million.

... financed the premium with a local insurance financing company and had to make a down payment of only $200. His first payment was due 30 days later. Two days before the payment was due, the insured telephoned the Los Angeles County Sheriff's office from a Denny's restaurant in Lakewood, CA, and reported his Rolls-Royce stolen. He told the police he had driven it to the restaurant for lunch, and when he returned, his car was gone. The police dutifully took down the report and began looking for the phantom Rolls-Royce ... . Classic Car had paid the insured's mother $75,000 for the loss of her Mercedes. The coincidence was too great to ignore. The investigator began to do the work he was trained to do. He first checked the database maintained by the National Insurance Crime Bureau and learned: The insured had been the reported victim of two auto accidents and a residential burglary-none of which were reported on the application for insurance. The insured had been convicted, at age 19, of four counts of check forgery, ultimately causing a ... 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 ...