A Calif. businesswoman surrendered to police after underreporting her company's payroll to Redwood Fire & Casualty Insurance Company (Redwood), where she had purchased workers' compensation insurance.
Teresa Reif, 31, is the owner of Genesis Building Services, Inc., which operates a janitorial and pest control company in the Bay Area. In 2008, Redwood allegedly received conflicting statements from Genesis in regards to the number of employees the company had.
As it turns out, Genesis had misrepresented about $544,440 in employee payroll, and Redwood referred the suspected fraud to the California Department of Insurance (CDI). The truth was that Genesis employed more than 140 staffers, and yet only reported less than half of them to insurance carriers.
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