Car insurance scheme from NY to PA

February 27, 2009 4:23:35 PM PST
A scheme from the 90's has made a resurgence in Bucks County. The masterminds behind the scam milked insurance companies out of $500,000. A price tag that could show up on your bill.

"These defendants we believe were very cunning and shrewd to devise this scheme," Pennsylvania Attorney General Tom Corbett said.

Earlier today, Corbett announced the arrests of four men who he says operated a bogus insurance scheme..

The accused ringleader is 48-year-old Michael Bozzi.

"Bozzi, along with one of his employees, Josh Green, allegedly devised a scheme to obtain Pennsylvania auto insurance policies for individuals living in New York City," Corbett said.

Corbett says the scam took place between January 2005 and September 2006 and involved hundreds of applications.

Corbett says 58-year-old Alexander Bien-Aime advertised in New York City, making promises of inexpensive cars and car insurance.

Bien-Aime would allegedly sell vehicles to New Yorkers and deal with Bozzi and Green for phony insurance policies.

Investigators estimate an average New York premium costs about $4,000 whereas one in Bucks County runs just $1,500!

The problem for Bucks County residents is when one of these people gets into an accident, it doesn't get recorded in New York. Instead it becomes a black mark here which, in turn, raises everyone's insurance rates in Pennsylvania.

Bozzi, the alleged ringleader, was a licensed insurance broker. He used to own and operate Bucks County Insurance in Morrisville.

RELATED LINKS: http://www.attorneygeneral.gov/press.aspx?id=4308

Link to previous warning about bogus insurance cards:
http://abclocal.go.com/wpvi/story?section=news/consumer&id=5478884

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