Byron Frisch, a former NFL defensive lineman, is among four people who have been arraigned on federal mail and wire fraud charges for the roles in an alleged insurance fraud scheme. The group is accused of submitting false information to obtain over $50 million worth of life insurance policies for unqualified applications who never intended on paying the policy premiums. Authorities believe they received more than $1.6 million in death benefits from these consumers who were under the impression that they were receiving these policies for free.
The indictment alleges that Frisch, along with Kristian Giordano, Kasra Sadr, and Brenda Barrera, recruited elderly people to apply for “free” insurance policies. According to documents, they advertised that these policies included death benefits exceeding $1 million. The defendants then submitted fraudulent applications that omitted or falsified the applicant’s net worth, income, or source of premium payments. All of the victims of this scam are believed to have resided in San Diego and the surrounding areas.
Byron Frisch, 36, and Kristian Giordano, 36, were licensed insurance agents. Kasra Sadr, 43, and Brenda Barrera, 43, are lawyers who have been accused of secretly funding the policy premiums, acting as trustees for applicants, and controlling sale of policies on the secondary market.
The defendants are scheduled to be in court on September 6, 2013 for a motions hearing.