The Bureau is looking into an alleged nationwide scam involving insurance and pensions.
The F.B.I. has launched an investigation into an alleged nationwide workers compensation fraud, health insurance scam and pension plan scheme.
The scheme involves policies and plans sold by American Labor Alliance or its U.S. subsidiaries.
The F.B.I. has requested that any businesses that have purchased policies or plans from American Labor Alliance (A.L.A.) or any of its subsidiaries across the country should contact their state insurance regulator. The state regulator will be able to tell if health insurance, pension plan or workers compensation fraud has occurred. It will verify policy validity to be sure they are indeed what they seem to be.
That said, businesses that suspect that they are victims of this alleged scam are advised to phone the or email the F.B.I. at 1-800-CALL-FBI or [email protected]
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The health and workers compensation fraud accusations come after ALA and two execs were charged.
A.L.A. and two of the company’s executives were charged with money laundering, mail fraud and conspiracy to commit mail fraud, back on January 10. The charges were made by a 14 count federal grand jury indictment, said an FBI release as reported by news.leader.com. Court documents from that case allege that the company and its subsidiaries sold products it claimed to be workers compensation policies which, in reality, may not provide any level of coverage to the businesses that purchased them.
A.L.A. started offering a product in 2011, which it labeled as a retirement pension plan. It gave the product several different names such as the “ALA Retirement Plan and Trust,” the “ALA Retirement Plan Trust,” and the “ALA Trust.” Each of those products may, in fact, be completely invalid.
Other court documents also indicate that A.L.A. and its affiliates were allegedly offering a spectrum of different forms of financial services to its perspective clients. These included drafting incorporation, tax preparation, and other types of similar business financial services. That said, while doing so, it was allegedly fraudulently claiming that it was a form of special labor organization under federal law. The FBI said that A.L.A. also advertised that its customers could receive financial services by joining the organization, moving the alleged fraud to financial services and not just health and workers compensation fraud schemes.