Fast and Furious Street Racing Linked to Insurance Fraud
07-02-2001, 12:24 PM
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Fast and Furious Street Racing Linked to Insurance Fraud
June 27, 2001
Illegal street racing may be "Fast and Furious" as the popular film suggests, but the real scene is partially funded by fraud and theft, according to the National Insurance Crime Bureau (NICB).
The popular film depicts a world whose youthful inhabitants are able to afford expensive import/sports cars, often customized by equally costly accessories. In the real world, to obtain the funds to buy these pricey vehicles or commission extreme modifications like high-performance engines, street racers often resort to insurance crime, said the NICB.
"The popularity of high-valued import cars and customized accessories that are the heart of street racing has helped fuel a surge of vehicle thefts and insurance fraud," says Robert M. Bryant, president and chief executive officer of NICB, a nonprofit organization funded by insurance companies to fight fraud and vehicle theft. He said NICB investigators regularly attend street race "shows" and regularly find stolen cars and evidence of insurance crimes.
"We generally recover stolen vehicles and component parts at every race," he said. False auto theft reports, staged accidents and phony property thefts and vandalism claims are among the scams used by street racers to defraud insurance companies, NICB reported.
Front-drive imports have become the 21st-century hot rods, and like their 1950s and 1960s forebears, the phenom has a dark side. While theft may happen at the fringe of the growing sport compact movement, the vast majority of enthusiasts limit their flirtation with the law. As this performance niche has grown, it has gained legitimacy from the automakers who now offer vehicles tailored to the tastes of this market, even including the potent sport-tuned components from the factory, as in the Acura Integra Type R and Honda Civic Si. As companies like Honda and even magazine publisher Emap USA raise their level of involvement in the sport, there will be safe, fun outlets for import enthusiasm
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I think they are being pigged headed and just closing in on 'street racers'. I know that scam insurance all day and use the dough for other shit like clothes, bling bling, or dope.
Illegal street racing may be "Fast and Furious" as the popular film suggests, but the real scene is partially funded by fraud and theft, according to the National Insurance Crime Bureau (NICB).
The popular film depicts a world whose youthful inhabitants are able to afford expensive import/sports cars, often customized by equally costly accessories. In the real world, to obtain the funds to buy these pricey vehicles or commission extreme modifications like high-performance engines, street racers often resort to insurance crime, said the NICB.
"The popularity of high-valued import cars and customized accessories that are the heart of street racing has helped fuel a surge of vehicle thefts and insurance fraud," says Robert M. Bryant, president and chief executive officer of NICB, a nonprofit organization funded by insurance companies to fight fraud and vehicle theft. He said NICB investigators regularly attend street race "shows" and regularly find stolen cars and evidence of insurance crimes.
"We generally recover stolen vehicles and component parts at every race," he said. False auto theft reports, staged accidents and phony property thefts and vandalism claims are among the scams used by street racers to defraud insurance companies, NICB reported.
Front-drive imports have become the 21st-century hot rods, and like their 1950s and 1960s forebears, the phenom has a dark side. While theft may happen at the fringe of the growing sport compact movement, the vast majority of enthusiasts limit their flirtation with the law. As this performance niche has grown, it has gained legitimacy from the automakers who now offer vehicles tailored to the tastes of this market, even including the potent sport-tuned components from the factory, as in the Acura Integra Type R and Honda Civic Si. As companies like Honda and even magazine publisher Emap USA raise their level of involvement in the sport, there will be safe, fun outlets for import enthusiasm
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
I think they are being pigged headed and just closing in on 'street racers'. I know that scam insurance all day and use the dough for other shit like clothes, bling bling, or dope.
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