North Carolina Insurance Commissioner Mike Causey today announced the arrest of Chris Edwin McCoy, 53, of 4614 Turtle Dove Court, Wilmington. McCoy was charged with one felony count of attempting to obtain property by false pretenses.
An examination by special agents with the N.C. Department of Insurance Criminal Investigations Division revealed that McCoy had rented a car and failed to return it. While the rental car was in his possession, McCoy took it to a repair shop to get the oil changed. However, the repair shop failed to properly reinstall the drain plug, resulting in damage to the engine.
The repair shop filed a claim on the vehicle to get the engine replaced. The insurance company sent the claim check directly to McCoy. According to the warrant, McCoy represented himself as the owner of the car, received a $6,315.06 check from Travelers Indemnity Co. and cashed it, but never paid for the repairs.
Special agents arrested McCoy on April 27 in New Hanover County. He was placed under $2,000 secured bond.
Insurance fraud costs American consumers approximately $80 billion dollars a year. According to Commissioner Causey, fraud costs North Carolinians between 15 and 20 cents of every dollar paid on insurance premiums -- and it’s getting worse.
“I am determined to stem the tide of insurance fraud in this state in order to save residents money,” said Commissioner Causey. “That’s why I am dedicated to the mission of our NCDOI law enforcement officers who investigate and prosecute claims of insurance and bail bonding fraud.”
To report suspected fraud, contact the N.C. Department of Insurance Criminal Investigation Division at 919-807-6840. Callers may remain anonymous. Information is also available at www.ncdoi.gov/fraud-control.