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After twelve months trying to get insurance on over $7,000,000 a Taiwanese man who was a wanted criminal in his own country convinced two American insurers to agree to insure him against the risk of loss to the contents of his home. To obtain the insurance he concealed from the American insurers that he was, at the time he purchased the insurance: an alien a court had ordered deported; that in his home country he was a wanted criminal; that he had left his home country with over $60,000,000.00 in checks unpaid; that every insurer at Lloyd’s, London had refused to insure him; that all of his property were fakes.

Regardless of the available evidence of fraud the insurers, against the advice of counsel, paid $4,000,000 to avoid trial.

It is time that prosecutors learn that the victim is not the giant insurance company but each and every person who buys insurance.