FBI conducting nationwide search for businesses affected by insurance, pension scam
INDIANAPOLIS, Ind.– The Federal Bureau of Investigation (FBI) is asking businesses to come forward if they believe they fell victim to a nationwide fraud scheme.
Executives of American Labor Alliance (ALA) were charged with fraud and money laundering in January. According to court documents, ALA and its subsidiaries sold what was purported to be workers’ compensation coverage that may actually offer no coverage.
The FBI says ALA used a variety of names for the retirement pension plan, including “ALA Trust,” “ALA Retirement Plan Trust” and “ALA Retirement Plan and Trust.” ALA and affiliates also allegedly offered financial services like tax preparation and drafting of incorporation and other documents.
The ALA allegedly marketed itself as a special type of labor organization under federal law.
Businesses that purchased these plans should contact the Indiana Department of Insurance. State regulators can determine the validity of any policy you may have. Affected businesses are also asked to call 1-800-CALL-FBI or send an email to WCVictims@fbi.gov.