|Beware Fraz Jamil - You make the news.....We report it!|
Fraz Jamil is now a tax associate with KPMG? Look at what a background check pulls up on this fraud!
Fraz Jamil was appointed by Fidelity Life Association in May of 2008 as a writing agent to market life insurance. Realizing how difficult it is to make a living in the insurance industry as an agent, Fraz decided to be creative and follow through on a temptation only a criminal mind could conceive. During the month of June, 2008, Fraz cashed in on $5,278.70 in advanced commissions after submitting five fraudulent life insurance applications.
Fraz submitted the applications electronically on behalf of the victims whose personal information he had procured as a family member. Upon receipt of the fraudulent applications the insurer issued the policies to each of the applicants. Fidelity Life advanced Fraz $5,278.70 and scheduled the first draft to fund the policies later in the week. It is at this time, Fidelity Life discovers the checking account was closed. Each policy was marked not taken causing a demand letter to be sent to Fraz.
Fraz Jamil has committed grand theft and commission fraud. (forged insurance applications for the purpose of securing a commission) Fraz was in the position to steal $5,278.70 simply by submitting applications from family members, cashing in on the advanced commissions, closing the checking account the policies were to be funded from and finally, walking away like nothing happened, as if he found a loop hole exposing how insurance companies like Fidelity Life turns a blind eye on fraud. The Texas Department of Insurance needs to censure renegade agents like Fraz Jamil and convict them as the felons which they are.