5 reasons your car might be uninsurable and 5 Craziest Stories of Insurance Fraud

2. The go big or go home fraudster

Perhaps one of the biggest insurance frauds committed in U.S. history, Sholam Weiss, along with a number of co-conspirators, managed to siphon over $400 million from the National Heritage Life Insurance Company. The scheme occurred from 1990 to 1995, when the company was liquidated. The majority of the 35,000 policy holders who were defrauded lived in Florida and many lost their life savings as a result. Weiss was convicted of 78 counts of racketeering, wire fraud, money laundering and more. To match the enormity of the theft, he received one of the longest federal prison terms ever imposed: a whopping 845 years. He only ended up serving 18 years of that sentence before he was pardoned by then-President Trump in 2021.