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Posted: November 4, 2010

Cary subcontractor accused of insurance fraud

Raleigh, N.C. — A Cary subcontractor is accused of insurance fraud, Insurance Commissioner Wayne Goodwin said Thursday.

Richard David Stone, 44, of 110 Bancroft Brook Drive, has been charged with one count of obtaining property by false pretenses with a value of more than $100,000.

Department of Insurance criminal investigators say Stone submitted a fraudulent certificate of insurance to O.L. Thompson Construction Co. to obtain employment as a subcontractor.

They allege Stone was not entitled to $113,832 he was paid by the company between February and April, because he did not have the insurance coverage required for him to be legally employed.

Stone was arrested in Wake County on Thursday and placed under a $25,000 secured bond.

Web Editor: Kathy Hanrahan

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Latest Comments

Well did he "obtain property" by false pretenses or did he get paid for doing a job? This is kind of silly- I mean, I know insurance is required but look at the millions of illegals that don't follow the rules- you're telling me those millions of people can do whatever they want but we have to arrest Americans?

shadow315
November 5, 2010 8:18 a.m.

It never stops amazing me how some people excuse actions by middle class people that they would hold criminal by others of lesser means. The victims are the same regardless of the income of the criminal.

anne53ozzy
November 4, 2010 6:59 p.m.

Yep - fraud in the construction business - who would imagine???? Probably his workers comp insurance - but if he was self employed why would he need that? Of course over 100 grand for 3 months he must have had some employees.