News Release: Honolulu Man Found Guilty of Insurance Fraud Faces Five Years in PrisonPosted on Apr 15, 2014 in News Releases
DEPARTMENT OF COMMERCE AND CONSUMER AFFAIRS
KEALII S. LOPEZ
FOR IMMEDIATE RELEASE
April 15, 2014
Honolulu Man Found Guilty of Insurance Fraud Faces Five Years in Prison
HONOLULU — A jury found Honolulu man, Yun Fei Tang, 46, guilty of insurance fraud and attempted theft. He is currently out on bail and awaiting sentencing in June in front of the Honorable Rom Trader.
Tang faces up to five years imprisonment for each count and $10,000 in fines for each count filing a false claim with his insurer, Allstate Insurance Co.
“This is a win for Hawaii’s consumers who are the real victims of insurance fraud schemes,” said Ryan Shinsato, Special Deputy Attorney General for the Insurance Division. “Insurance fraud affects everyone by inflating the cost of insurance, with 25 percent of every premium dollar going to pay for false claims.”
“The Insurance Division’s Fraud Branch works hard to investigate and prosecute criminals like Mr. Tang who try to steal from insurance companies and ultimately Hawaii’s policyholders,” said Insurance Commissioner Gordon Ito. “I urge the public to get informed and report any suspicious incidents to our Division. Reporting suspicious fraudulent activity may help in lowering premiums in Hawaii.”
For more information on insurance fraud call the Insurance Fraud Hotline at (808) 587-7416.
The Hawaii Insurance Division oversees the Hawaii insurance industry, issues licenses, examines the fiscal condition of Hawaii-based companies, reviews rate and policy filings, and investigates insurance related complaints.
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Public Information Officer