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Manhattan DA Crack Premium Fraud Case

22 Jul, 2009 WorkersCompensation.com

                               
New York, NY (CompNewsNetwork) - New York State Insurance Fund Executive Director James J. Wrynn announced the guilty pleas of a construction company and its owner, and the payment of $150,000 in restitution to NYSIF, in a case of workers' compensation premium fraud handled by Manhattan District Attorney Robert Morgenthau's Office.

Investigators from DA Morgenthau's Office arrested Kamenko Antonic, owner of KZ & V Construction, on July 15, on charges connected with violating two sections of the New York State Workers' Compensation Law.

Mr. Antonic, 49, of Middle Village, Queens, pleaded guilty to fraudulent practices, and the KZ & V Corporation pleaded guilty to failure to furnish proper records – a felony and misdemeanor, respectively.

“Premium fraud is the most costly type of workers' compensation fraud,” NYSIF Executive Director Wrynn said. “As the state's leading workers' compensation carrier, NYSIF far and away conducts the most premium audits and, as the state's leader in fighting workers' compensation fraud, pursues more premium fraud than any other carrier in New York State.

“We are grateful for the assistance we receive from law enforcement authorities such as DA Robert Morgenthau who understand the serious impact of workers' compensation fraud on the New York economy.”

Investigators said Mr. Antonic underreported payroll to NYSIF on behalf of KZ & V Construction from February 1, 1999 through February 1, 2005 to avoid paying the correct insurance premium due on KZ & V workers' compensation policies.

A joint investigation by the Manhattan DA's Office and NYSIF's Division of Confidential Investigations led to Mr. Antonic's arrest. The DA's Office was able to recover $150,000 of the outstanding premium on behalf of NYSIF.

NYSIF is a competitive insurance carrier that sells workers' compensation and disability benefits insurance to any employer doing business in New York State. Approximately 185,000 employers hold NYSIF workers' compensation insurance policies, constituting about 37 percent of the market.

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