G4S Compliance & Investigations and XL Insurance Announce Arrest in Hurricane Rita Insurance Fraud Case With Restitution Awarded in the Amount of $500,000.00


RALEIGH, N.C., Feb. 9, 2010 (GLOBE NEWSWIRE) -- G4S Compliance & Investigations and XL Insurance, the global insurance operations of XL Capital Ltd (NYSE:XL), announce the arrest and conviction of Victor Tran, charged with submitting a fraudulent claim.

Michael Malone, President of G4S Compliance & Investigations, stated: "This criminal tried to turn a profit on a catastrophic event. While others were helping those who suffered, this individual saw an opportunity to defraud his insurance company by claiming his business was damaged in Hurricane Rita. Unlawfully attempting to profit from a catastrophic event is truly horrific. G4S remains committed to working with insurance companies and law enforcement agencies to prosecute individuals who defraud insurers and thereby increase premiums for all consumers."

Mr. Tran presented an estimate for the repair of refrigeration equipment in the amount of $347,600.00.  Upon conducting extensive interviews, including the owner of the reported repair facility, G4S investigators discovered that while Mr. Tran had serviced his equipment at the repair facility in the past, the Hurricane Rita service billings were completely fabricated. Additionally, Mr. Tran presented an estimate from a construction company for repairs in the amount of $761,726. Upon interviewing the owner, G4S investigators verified that although the estimate was prepared by them, the construction company was never hired to complete the work. 

In 2009, the G4S SIU Team was the nation's undisputed leader in insurance fraud investigations throughout the United States.  During 2009, G4S initiated 1,390 State Fraud Referrals; resulting in 167 arrests and 89 convictions with over $1,433,526 in restitution being awarded back to clients. 

"We value our renewed and continued business partnership with G4S," said Paul Tuhy, Global Head of Claims for XL Insurance. "The recognized expertise with investigations and SIU programs that G4S brings to the industry continues to create value and provides results back to XL Insurance and our clients." 

About G4S Compliance & Investigations

G4S Compliance & Investigations is a global leader in Enterprise Risk Management solutions.  Our value added Solutions include: Insurance & Risk Management Solutions, Human Resources & Employment Solutions, Corporate Security Solutions and Compliance & Training Solutions.G4S Compliance & Investigations has revolutionized the insurance industry as a "OneSource" solution to help combat fraud. G4S is the largest employer quoted on the London Stock Exchange and has a secondary stock exchange listing in Copenhagen. G4S has operations in over 110 countries and over 570,000 employees. For more information on G4S Compliance & Investigations, visit www.cni.g4s.com.

The G4S Compliance & Investigations logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=1500


            

Contact Data