Two former top investigators for Farm Bureau Financial are suing the company for fraud, racketeering and wrongful termination.
The lawsuit alleges the insurer’s management group knew of fraudulent activity committed by company employees and refused to report fraud to state regulators. The purpose of the scheme was to pass on the bulk of the financial costs of some fraudulent claims or illegal activities to policyholders and other competitors, the lawsuit alleges.
The lawsuit claims the defendants committed racketeering, obstruction of justice, and mail fraud or wire fraud…