Chae Hyong Chu is yet another unfortunate example of a company claim adjuster trying to "work" his employer for some extra cash -- and getting busted in the process.
His scheme unfolded like so many before him. According to Maryland Attorney General Douglas Gansler, Chu was a licensed insurance agent who was working as a claim adjuster for Progressive Insurance Company. From May 2005 through September 2007, he issued six checks from Progressive to himself or his wife, and then deposited the checks into his personal bank accounts. Over the two year period, Chu stole more than $39,000 from his employer.
You can imagine his wife's reaction to the charges and eventual conviction, since Chu admitted to issuing and endorsing all six checks. Apparently, his wife was unaware that any of the checks had been issued in her name.
Chu was sentenced to a single count of felony theft by Maryland's Montgomery County Circuit Court Judge Nelson W. Rupp, Jr., who imposed a five-year suspended sentence, two years probation, and 50 hours of community service. Chu also had to make full restitution, which he did.
The conviction was made possible through a joint investigation by the Insurance Fraud Division of the Maryland Insurance Administration, the Maryland State Police, and the Office of the Attorney General.
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