Radovan Krejcir implicated in life insurance fraud

We have discussed previously the need to be an active participant in combatting insurance fraud! Insurance fraud is not only occurring in the car and household insurance industries – but also in the area of life insurance.

A specific example caught my eye as reported upon in Eyewitness News, and I would like to quote from and share this story:

“Fugitive Czech businessman Radovan Krejcir has been implicated in insurance fraud after the man who helped him signed a deal with state prosecutors.

On Wednesday, Slovakian doctor Marian Tupy pleaded guilty to charges of defrauding insurance company Liberty Life of over R4.5 million. He was sentenced in the Alexandra Magistrate’s Court to seven years in jail, suspended for five years.

According to the plea and sentence agreement, Tupy has to give prosecutors detailed affidavits about his involvement in the Liberty insurance case including Krejcir’s fraudulent transactions.

Court papers show that Krejcir approached Tupy in April 2008 to put together a fake medical history after the Czech businessman took out life insurance.

Tupy agreed and used another patient’s samples to create the impression that Krejcir had cancer of the bladder. Krejicir was then paid out over R4.5 million by the insurance company.”

[Story by Rahima Essop appeared on Eyewitness News]

We would like to urge the public to report insurance fraud in an effort to curb the ever increasing cost of insurance.

Also view:

Where can we report insurance fraud in South Africa?

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