Ricardo Campos Jr. Accused Of Embezzling $700K from Allstate

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Ricardo Campos Jr. Accused Of Embezzling $700K from Allstate

Unread postby RatPak11 » Thu Dec 20, 2012 1:10 pm

http://articles.chicagotribune.com/2012 ... rdo-campos

Man accused of embezzling $700K from former employer
December 19, 2012

A 36-year-old Grayslake man was arrested Wednesday, accused of stealing more than $700,000 from his former employer, authorities said.

Ricardo Campos Jr. was arrested this morning at his home on a $100,000 D-bond warrant with the charge of theft over $500,000, a class 1 felony, according to a statement from Cook County Sheriff’s police.

The Sheriff’s Financial Crimes Unit was contacted in July by Allstate, which reported that Campos, a former senior claims manager, embezzled money from the company, according to the statement.

Campos worked for 10 years at the Allstate headquarters in Northbrook before he was terminated by the company this summer after an internal investigation, the statement said.

During the last five years Campos altered computer records on four accounts of deceased beneficiaries and directed those Allstate annuity payments to his personal bank account, the statement said.

Normal practice is to end the payments to the beneficiaries after they die.

Campos is scheduled to make his initial court appearance Thursday.



http://northbrook.suntimes.com/news/171 ... -scam.html

Grayslake man charged in insurance scam

THE ASSOCIATED PRESS December 20, 2012 10:32AM

Updated: December 20, 2012 10:38AM

Authorities in Cook County have arrested a former claims manager at an insurance company on theft charges after he allegedly brought back to life — on paper at least — four dead beneficiaries and then sent their annuity payments to his own bank account.

In a news release, the county sheriff’s department says 36-year-old Ricardo Campos Jr. of Grayslake was arrested at his home on a felony charge of theft this week.

The arrest stems from an investigation that was launched in July after Allstate Insurance Co. reported that Campos, a senior claims manager at Allstate’s Northbrook headquarters, had just been fired after an internal investigation revealed he’d allegedly embezzled money from the company.

The sheriff’s department says Campos was altering the computer records for the last five years.
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Re: Ricardo Campos Jr. Accused Of Embezzling $700K from Alls

Unread postby RatPak11 » Tue Jun 18, 2013 1:36 pm

http://newssun.suntimes.com/news/208055 ... 60000.html

Allstate Insurance suing former worker who stole $760,000
Sun-Times Media Wire June 17, 2013 8:10PM
updated: June 18, 2013 2:36AM

Northbrook-based Allstate Insurance Company is suing a former employee convicted of funneling more than $760,000 in payments to dead beneficiaries to his own bank accounts by changing their death dates.

Ricardo Campos, formerly of Grayslake, was arrested at his home in December 2012, Cook County Sheriff’s police said at the time.

He initially pleaded not guilty to seven theft-related charges, but changed his plea to guilty this April and was sentenced to five years in prison, court records show.

According to a lawsuit filed Monday, June 17, Campos was a senior claims examiner at Allstate. He was responsible for processing structured settlements so that payments would stop after a beneficiary died, the suit claims.

Instead, Campos changed the death dates of at least three Allstate beneficiaries to dates in the future, and diverted the ongoing payments to accounts he controlled, the suit claims.

Allstate began investigating in June 2012, and fired Campos a month later after company officials learned his scheme had stretched back to at least 2006, the company said in the lawsuit.

In all, Campos pocketed $760,700 in settlement payments that never should have been issued, the suit says.

The lawsuit, filed in Cook County Circuit Court, claims conversion and fraud, and demands he return the entire sum plus interest and court costs.
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Re: Ricardo Campos Jr. Accused Of Embezzling $700K from Alls

Unread postby RatPak11 » Tue Jun 25, 2013 10:02 am

http://www.chicagotribune.com/news/loca ... 1067.story

Allstate sues to recoup embezzled money
Allstate sues former employee, seeking to recoup $760,000 he embezzled
By Alexandra Chachkevitch, Chicago Tribune reporter
June 27, 2013

Allstate Insurance Corp. has sued an imprisoned former employee, seeking restitution of the $760,700 he embezzled.

The Northbrook-based insurance company, which filed the lawsuit on June 14, alleges that Ricardo Campos Jr., 36, manipulated the time of death for at least three beneficiaries, funneling the company's funds into his personal accounts over the course of about six years.

Campos, formerly of Grayslake, pleaded guilty to theft in April, and is currently serving a five-year sentence at Vandalia Correctional Center.

Campos, who worked at Allstate's Northbrook headquarters for about 14 years as a senior claims examiner, was responsible for "inspecting and investigating structured settlement payment claims," making sure the payments stopped when the beneficiaries died, according to court documents.

Allstate first discovered Campos' scheme in June 2012.

"The issue was identified during a routine audit conducted by the company," said Laura Strykowski, an Allstate spokeswoman, in an email. No customers were affected, she said.

In one case, Campos used the account of a beneficiary who died in Aug. 11, 2006, to embezzle around $620,000 over about five years. He swapped the person's date of death with a future one and altered his banking information on at least 30 different occasions, according to court records.

In doing so, Campos tricked the company's system into believing that the beneficiary was still alive and should be receiving his monthly payments, which then were transferred into a bank account under a fictional name of Kelicia M. Cams, a pseudonym Campos admitted using, according to court documents.

Campos said he used the money on personal items and gambling, court records show, but didn't keep track of it.

He expressed surprise at being caught, records indicate.

"It's a death claim," Campos said, according to a transcript of a recorded statement from last July. "No one is really, like, looking at them. Once you close out the policy, then it's closed."
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