MURRAY, Ky. — In the wake of an insurance company owner being arrested on fraud charges, law enforcement warned that there could be other clients impacted.
The Graves County Sheriff’s Office arrested David Ramey — owner of David Ramey Insurance in Murray — in early April, charging him with insurance fraud and theft of $10,000 or more.
Graves County Sheriff’s Office Detective Ben Doran said the investigation started on March 16 when a Graves County church came to the sheriff’s office to report suspicious activity based on insurance statements. The church asked the sheriff’s office to remain anonymous when reporting the investigation.
Graves County Detective Ben Doran said the investigation is ongoing.
“They did not, at times, seem to have insurance because they got notice of cancellations (and) reinstatement letters,” Doran said. “It was very odd to…
This type of fraud targets the supply chain and accounts payable departments of businesses.
- Invoice Manipulation: Criminals intercept a legitimate invoice between a supplier and a client and change the banking details to their own. The client pays the bill thinking they are paying their trusted vendor.
- Kickbacks and Bribery: A vendor secretly pays an employee of the purchasing company to ensure their bid is successful or to overlook inflated pricing.