Robert L. Feldman and Life‑Insurance Fraud: What You Need to Know

Who Is Robert L. Feldman?

Robert L. Feldman is a former senior executive at a large insurance firm who was convicted in 2018 for orchestrating a scheme that defrauded life‑insurance policyholders. According to court filings, Feldman used his position to manipulate policy documentation and claim payouts, resulting in over $12 million in fraudulent gains. The case was prosecuted by the U.S. Department of Justice and concluded with a 10‑year prison sentence.

What Is Life‑Insurance Fraud?

Life‑insurance fraud occurs when an individual or entity deliberately misrepresents facts to obtain a benefit from a policy. Common tactics include:

• Falsifying health information on applications.
• Submitting false or forged death certificates.
• Misappropriating claim payouts.

Legal Consequences

Federal statutes, such as 18 U.S.C. § 1346, impose penalties of up to 10 years in prison and fines exceeding $250,000 for life‑insurance fraud. States add their own statutes, often with similar severity.

The Feldman Scheme Explained

Feldman leveraged his insider knowledge to alter policy terms and submit false claim documents. Key elements of the scheme included:

• Coercing policyholders into signing amended terms that lowered premiums while inflating payout amounts.
• Using forged medical records to justify increased death benefits.
• Redirecting legitimate claim payments into shell accounts controlled by Feldman.

Impact on Victims

More than 150 policyholders lost an average of $80,000 each. Families received delayed or partial benefits, and several small insurers faced solvency challenges.

How to Spot Red Flags

Policyholders should watch for:

• Unexplained changes to policy terms.
• Requests for additional medical documentation after policy issuance.
• Unusual payment instructions or new beneficiaries.

Verification Steps

Confirm all documents directly with the insurer's official portal. If you suspect fraud, file a complaint with the state insurance department and consider contacting a forensic accountant.

Protecting Your Beneficiaries

Steps to safeguard claims:

• Maintain a digital copy of the original policy.
• Use secure, verifiable death certificates issued by the state.
• Keep beneficiaries listed and verified in writing.

Legal Resources and Support

Victims can seek:

• State attorney general office assistance.
• Consumer protection agencies such as the CFPB.
• Legal aid societies for representation if financial resources are limited.

Key Takeaways

Robert L. Feldman's conviction underscores the importance of vigilance in life‑insurance matters. By understanding common fraud tactics and maintaining strict record‑keeping, policyholders can reduce the risk of falling victim to similar schemes.