FEDS INDICT 10 IN ALLEGED INSURANCE-FRAUD SCHEME

The owner of a Denver company and nine of his employees plotted in weekly meetings to rip off insurance companies by getting subcontractors to turn in fake, inflated bids, according to a 60-count federal indictment announced Tuesday.
Disaster Restoration Inc. routinely submitted bills to insurers that were 20 to 30 percent higher than what the company paid subcontractors, the indictment says.
It also claims that the chief operating officer, Charles "Chip" Homer Sharp, of Broomfield, threatened at least two subcontractors with violence or economic harm if they didn't go along with the scam.
DRI owner Michael Griggs said the company will defend itself against the allegations, then referred questions to his attorney, Michael Axt.