The Insurance Fraud Unit of the Hudson County Prosecutor’s Office made a significant breakthrough in Bayonne as they arrested a local resident on charges related to insurance fraud. The suspect, 26-year old Frank Olivero, was arrested earlier today at the Prosecutor’s Office in Secaucus following an investigation that determined he submitted a fraudulent insurance claim for a vehicle involved in a motor vehicle collision.
The investigation determined that Olivero filed a claim with Progressive Insurance Company, falsely claiming that the damage sustained by a 2017 Honda Civic occurred while parked in New York City on January 6, 2023 when in fact the damage had occurred prior to that date.
Olivero is charged with one count of insurance fraud, a third degree crime. He has been released pending his first court appearance, tentatively scheduled for June 13, 2023 in Central Judicial Processing Court in Jersey City.
The arrest serves as a stern warning to those who seek to exploit insurance systems and defraud companies and individuals. The Insurance Fraud Unit is committed to protecting the interests of policyholders and ensuring the fair and honest operation of the insurance industry in Hudson County.
Insurance fraud has far-reaching consequences, affecting both insurers and the public. It not only imposes financial burdens but also undermines the trust and stability of insurance markets. The Hudson County Prosecutor’s Office, along with dedicated investigators, is focused on identifying and prosecuting individuals involved in such illicit activities to safeguard the community’s welfare.
Authorities are now intensifying their efforts to thoroughly examine the extent of the suspect’s fraudulent activities and determine whether there are any accomplices or additional victims involved. Through meticulous investigation and collaboration with insurance companies, they aim to bring all responsible parties to justice.
The charge against Olivero is merely an accusation at this time. He is presumed innocent until such time he is found guilty in a court of law.
The arrest in this case highlights the commitment of the Hudson County Prosecutor’s Office to combating insurance fraud. By apprehending those who seek to exploit the system, they send a clear message that such illegal activities will not be tolerated.
