In addition, the report notes that OIFP filed 69 new criminal cases by way of Accusation or Indictment, charging 86 defendants with insurance or Medicaid fraud related crimes.
Insurance fraud costs New Jersey residents an untold amount of money each year.
In New Jersey, we have an unwavering commitment to combating insurance fraud in all its forms. However, I continue to believe the stigma of criminal conviction is one of the most effective ways to deter white collar crime. Smith noted that during 2000, the OIFP opened 519 new criminal investigations of insurance fraud or Medicaid fraud, obtained 75 convictions, and sent 19 defendants, approximately one in four, to jail. In total, these 19 defendants were sentenced to more than 34 years of incarceration. In addition, OIFP civil investigators received and reviewed 11,888 matters involving allegations of insurance fraud and opened active investigations on 5,299 of those matters.