Chaim Mayer Lebovits Indicted in $550-million
Insurance Fraud Scheme

February 27, 2011 Monsey businessman and political activist, Chaim Lebovits, was named in a Federal indictment last week along with five others accused of multiple counts of insurance fraud, money laundering and wire fraud. As Managing General Agent and Vice-President of Liberty Planning, Inc., an insurance agency located in Monsey, the defendant and others are alleged to have purchased large insurance policies for “Straw Buyers” offering fraudulent information and then created trusts to sell the policies on the secondary market. The Department of State lists Moishe E. Lebovits as Chairman or CEO of Liberty Planning, Inc. Moishe is also Chairman or CEO of LeBaum Company, the company that insures the Town of Ramapo.

Full text of the federal indictment can be read here.

The Department of State Entries for the Liberty Planning and LeBaum companies are below. If the prosecutors seek to freeze the assets of all the companies with which Chaim is associated there's a possible problem with the Town Insurance coverage.