How car sales agents are scamming customers out of millions of dollars by selling car sales contracts and car insurance coverage
Car insurance agents are being charged hundreds of thousands of dollars each year in fraudulent insurance fraud cases, according to a new report from researchers at the University of Pennsylvania.
The authors of the study say that agents have been making “huge profits” from the fraud, which they call “ponzi-like.”
Car sales agents were not the only ones making money out of fraud.
They were the only people who were actually selling the same cars they had been selling for years.
The authors of this study estimate that, on average, agents made $15 million annually from insurance fraud.
That’s not including the millions they made from commissions, which are the percentage of sales agents that earn commissions from their clients.
This was especially true of agents who were selling insurance on cars that had not been purchased yet, which is a common practice.
The study also found that the vast majority of agents were involved in fraud from the time they started out selling cars until the end of their contracts.
They earned roughly $6 million per year from the fraudulent insurance deals they made, and the vast bulk of those commissions came from agents who had a contract that had expired and was no longer valid.
This isn’t the first time the authors of their study have looked into how these fraudulent insurance contracts work.
In 2011, the same group found that agents were “sales agents for insurers, who had no actual sales responsibilities whatsoever.”
The authors wrote that “the practice of selling insurance to agents has grown in popularity in the past decade.”
In the case of car insurance, that practice is still going strong, the authors note.
It’s estimated that car insurance agents have made a whopping $3 billion per year in fraud on insurance claims.
The study doesn’t specify how much fraud has occurred over the years, but the authors suggest that the rate has tripled since 2009.