Updated May 27, 2026
Federal Indictments Hit Associates in Major No-Fault Auto Insurance Fraud Scheme
Federal prosecutors have charged three associates of Frank Carone in connection with a large no-fault auto insurance fraud operation. The indictment targets Zhan Johnny Petrosyants and his associates Vladislav Vlad Stoyanovsky and Dmitriy Dimi Khavko, alleging they ran a scheme that generated tens of millions of dollars in fraudulent medical claims. The scheme involved the Finance Vision Capital Group, a company that advanced money to doctors and clinics while collecting full insurance payouts. Prosecutors allege Finance Vision played a key role in facilitating the fraud through fake claims supported by licensed doctors’ signatures.
Frank Carone, although closely linked to Finance Vision, has not been charged and is described by his lawyers as a victim who lost millions in the scheme. Carone’s attorneys maintain that once he joined City Hall in 2022, he ceased involvement with Finance Vision. Meanwhile, Finance Vision faces ongoing civil lawsuits, including one by GEICO accusing the company of aiding a fraudulent network that submitted thousands of false insurance claims. The indictments come amid a backdrop of legal troubles for other associates linked to Carone and former New York City Mayor Eric Adams.
Civil Lawsuit Alleges Finance Vision’s Role in Multi-Million Dollar Fake Claims
GEICO has filed a federal civil lawsuit accusing Finance Vision Capital Group of knowingly facilitating a vast insurance fraud scheme that involved submitting tens of thousands of false claims. According to the insurer, the scheme generated inflated medical claims for no-fault auto insurance payouts, many of which were based on treatments that never occurred or held no medical value. The lawsuit targets key associates linked to Finance Vision and claims the company played an active role in the fraudulent operations that cost insurers millions.
Federal prosecutors and GEICO outline how doctored signatures from licensed doctors and the use of shell companies created a complex network to submit and collect on these fake claims. Finance Vision allegedly advanced money to doctors and clinics but diverted funds through shell businesses that were not genuine medical providers, further inflating the claim amounts. While the federal indictment against the scheme’s key operators focuses on criminal charges, GEICO’s civil suit emphasizes Finance Vision’s alleged complicity in enabling these fraudulent claims, highlighting its central position in the scheme’s financial mechanisms.Beinsure
Colorado Dance Studio Owner Charged in $500,000 Insurance Fraud Scheme
Cindy Burdine, owner of a dance studio in Boulder, Colorado, faces over 20 criminal charges related to an alleged insurance fraud scheme in which she staged fake break-ins at her business and submitted fraudulent claims exceeding $500,000. Prosecutors also accuse Burdine of damaging her own studio and attempting to influence a police officer during the investigation. The case originated after a former employee reported suspected fraud to authorities, and Burdine’s bail was set at $10,000.CBS Colorado
According to the indictment, Burdine hired individuals to impersonate burglars on surveillance videos to substantiate her claims. Some of the insurance proceeds were reportedly used for personal expenses, including cosmetic surgery. The investigation remains ongoing as prosecutors continue pursuing charges against Burdine.CBS Colorado
Avoid Saying These Phrases When Making an Auto Insurance Claim
Drivers filing auto insurance claims should avoid apologizing or speculating about fault during their conversations with insurance adjusters. Saying things like "It was my fault" or speculating on how fast you were going can prompt insurers to question the credibility of the claim and potentially raise premiums. Experts caution against nervous or emotional statements during claim reporting because these can unfairly imply liability even if fault is not clear.
Additionally, claimants should be wary of providing recorded statements, as these can be used against them later in the claims process. Keeping answers factual and brief, such as responding "I don’t know" rather than guessing, limits complications. Remaining calm and avoiding speculative or apologetic remarks helps maintain clarity and preserves the integrity of the claim review process.Jalopnik
Brief: Older Drivers Can Cut Insurance Bills by Accurately Reporting Mileage
New findings highlight that older drivers can reduce their car insurance premiums by updating their mileage estimates to reflect their typically lower annual driving. Analysis from Taking Care Personal Alarms shows drivers aged 70 or older average just 1,665 miles annually, substantially less than the UK average of roughly 7,400 miles for all drivers. Insurance providers assess premiums based in part on mileage since higher mileage correlates with increased accident risk, so more accurate, lower mileage reporting by older drivers can lead to cost savings. Age UK advises older motorists to ensure their mileage estimates are precise and not overestimated when renewing coverage.Chronicle Live