Related Federal Cases
- Glenn R. Fischer, $3M Insurance Fraud Scheme, Ellicott City MD, 2023 · Maryland
- Peter Argyris, Accused of Arson for Insurance Fraud, North Las Vega… · Maryland
- Steven E. Jones Sentenced to 26 Months for Investment Wire Fraud, L… · Maryland
- Husam Usama Tayeh, Wire Fraud, IL 2017 · Maryland
- Walter Fabian Guzman, Tax Return Fraud Conspiracy, NV 2024 · Maryland
Glenn R. Fischer, $4.4M Insurance Fraud, Maryland 2017
Baltimore, Maryland – In a shocking display of greed, Glenn R. Fischer, 70, of Ellicott City, Maryland, pleaded guilty on March 21, 2017, to wire fraud and aggravated identity theft arising from a scheme to defraud businesses seeking insurance.
The scheme, which lasted from 2002 to 2014, involved Fischer creating a Nevada corporation called TriArc Marketing Solutions (TriArc Solutions) and using it to collect more than $4.4 million in RVI insurance premiums from victim companies.
Fischer admitted that he created and sent false insurance coverage documents, fraudulent emails, premium invoices, lists of covered vehicles, and other documents to victim companies, causing them to falsely believe that they had purchased RVI insurance through him.
Fischer used the identity of an employee of a multinational property and casualty insurance company in furtherance of the fraud, including his name, title, and purported signature on the declaration pages of the fake insurance policies.
Glenn R. Fischer’s scheme caused losses in the amount of $4.4 million to the victims who thought they were insured. The guilty plea was announced by United States Attorney for the District of Maryland Rod J. Rosenstein and Special Agent in Charge Gordon B. Johnson of the Federal Bureau of Investigation, Baltimore Field Office.
According to the plea agreement, Fischer will be required to forfeit all property constituting, derived from, or traceable to the proceeds of the fraud, including, but not limited to, $4.4 million. He also admitted to failing to report a significant portion of the money he obtained from the fraud on his annual tax returns for the 2009 through 2014 calendar years, generating a substantial tax loss to the United States.
The total income Fischer received but did not report to the IRS for these tax years exceeded $3.3 million. Fischer’s relatives also used the proceeds of the insurance premium payments for their personal benefit.
Key Facts
- State: Maryland
- Category: Fraud & Financial Crimes
- Source: DOJ Press Release â†â€â€
ðŸâ€Â’ Get the grimiest stories delivered weekly. Subscribe free →
MORE FEDERAL CRIME NEWS
US NewsUS NewsUS NewsUS News