Coface Insurance accused Villa Rica solo Jay Davis of allowing email hijackers to misdirect $3.1 million into his IOLTA account, from which more than a half-million dollars was siphoned before the scam was discovered. (Photo: Bigstock)
An insurance company that sued an attorney over allegations he conspired with online fraudsters to steal more than half a million dollars meant for a policyholder has settled its claims with Villa Rica solo James "Jay" Davis III.
Coface North America Insurance Co. sued Davis in federal court in Atlanta in January, claiming unknown "John Doe" confederates used a bogus email account to hijack a $3.1 million settlement. The insurer discovered the ruse in time to recover most of the money from Davis' trust account, but it said $552,766 was never accounted for.
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Greg Land
Greg Land covers topics including verdicts and settlements and insurance-related litigation for the Daily Report in Atlanta.
