"Students' Gruesome Insurance Scam: Amputations and Deceptive Payouts"

1 min read
Source: Business Insider
"Students' Gruesome Insurance Scam: Amputations and Deceptive Payouts"
Photo: Business Insider
TL;DR

A Taiwanese university student, persuaded by a friend to have his legs amputated in a $1.3 million insurance scam, has been arrested for fraud. The friend, who suffered cryptocurrency losses, tricked the student into signing a note obligating him to pay $800,000. After faking frostbite injuries, the student received only $7,200 from an insurer, which will now be seized. Insurance fraud rates are reportedly rising post-pandemic, with opportunistic fraud cases surging 61% in the UK.

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