Global locations of the AXA Group of insurance companies. (Photo credit: Wikipedia)
Insurance disputes are common. In the case of one St. Paul man, the dispute is an accusation by the insurance company that he filed a false insurance claim for collectibles and artwork that he reported stolen.
Rather cut and dry, right?
Now, Jason Sheedy, 39, has been charged in federal court with wire fraud.
Prosecutors said that Sheedy filed an insurance claim for over $275,000 for art and other valuables that he reported stolen in 2007. The total collected from AXA Art Insurance Corp was $254,000.
But after paying the claim to Sheedy, AXA later stated that some of the works that were reported stolen by Sheedy were found for sale on Artbrokerage.com. They contend that the art pieces were the same exact ones they had insured.
Sheedy says that some of the artwork was in a moving van when it was stolen.
However, it has been reported that investigators searched Sheedy’s home and found 22 pieces of historic items and artwork that he had reported missing. In fact, the pieces were found in his home in 2011 by armed government agents.
Sheedy had initially told the police late last year that the art was stolen from his moving van when he was moving to a Minneapolis condo to his St. Paul home. He said the condo wasn’t ready, so he had to park the van alongside the street, which is when someone allegedly broke off the padlock and stole the contents.
Pursuant to a plea agreement earlier this year, Sheedy was sentenced in federal court to three years’ probation on one count of wire fraud.
Sheedy also must pay $352,000 in restitution and serve 500 hours of community service.
MKT LAW OFFICE