Bermuda insurer unveils Lai's big lie
Created: Nov 03, 1999 10:00 AM
of more than $300,000 by faking his own death in a traffic accident.His web of deceit, which did not include the woman who became his `widow' in the scam,
of more than $300,000 by faking his own death in a traffic accident.
His web of deceit, which did not include the woman who became his `widow' in the scam, was only discovered when he tried to claim an even larger amount from a Bermuda subisidary of American International.
Hong Konger Lai Ka-chuen, 39, received HK $2.46 million (US $312,000) from Top Glory Insurance (Bermuda) Ltd. and made claims against American International Assurance (Bermuda) Ltd., who unmasked the fraud, and Blue Cross (Asia Pacific) Insurance Ltd., who also declined to pay.
Mr. Lai, who blamed another Mr. Lai for his crime, began a jail sentence on Monday.
Full story on Page 20
