North Carolina Insurance Commissioner Mike Causey today announced the arrest of Frederick Fripp, 65, of 3513 Kennicot Court, Fayetteville. Fripp was charged with insurance fraud and attempting to obtain property by false pretense, both felonies
Special Agents with the Department of Insurance’s Criminal Investigations Division accuse Fripp of falsely reporting to Geico that his 2010 Dodge Avenger had been stolen, knowing that the auto had been wrecked.
The offenses occurred between April 8-11.
Fripp was arrested on July 24 and given a $10,000 unsecured bond pending an Aug. 13 date in Cumberland County District Court.
Fraud is felt every time consumers pay their insurance premiums. Commissioner Causey estimates fraud costs North Carolinians between 15 and 20 cents on every dollar paid on insurance premiums.
“Insurance fraud affects our economy. Not only does it damage insurance companies, it cheats businesses and consumers too,” Commissioner Causey said. “This kind of white-collar crime is unacceptable. That’s why I’ve doubled the number of Special Agents to investigate insurance fraud. Cracking down on fraud will put more money in the pockets of businesses and consumers.”
To report suspected fraud, contact the N.C. Department of Insurance Criminal Investigations Division at 919-807-6840. Callers may remain anonymous. Information is also available at www.ncdoi.com.