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October 2, 2008

http://chicago.fbi.gov/pressrel/2008/oct02_08.htm

“ALGERIAN NATIONAL ARRESTED IN INSURANCE FRAUD SCHEME TARGETING ALLSTATE”

PRESS RELEASE SNIPPET: “Robert D. Grant, Special Agent-in-Charge of the Chicago office of the Federal Bureau of Investigation (FBI) was joined today by Gregory Jones, Special Agent-in-Charge of the Atlanta office of the FBI, in announcing the arrest of an Algerian national who has been the subject of an international manhunt for nearly eight years.

ABDELHAMID SEDRATI, age 56, whose last known address was 712 8th Avenue in Albany, Georgia, was arrested last week, without incident, by FBI Special Agents in Atlanta, Georgia. SEDRATI had been the subject of an international manhunt coordinated by the Chicago FBI, since December of 2000, when he was charged by a Federal Grand Jury in Chicago with one count of Mail Fraud, which is a felony offense.

The indictment alleges that SEDRATI and his sister, YAMINA SEDRATI, conspired to defraud the Northbrook, Illinois based Allstate Life Insurance Company of over $400,000 by staging the death of ABDELHAMID SEDRATI. The grand jury charged that in 1991, SEDRATI purchased a life insurance policy from Allstate, naming his sister as beneficiary. The indictment alleges that the policy application contained several false statements, including SEDRATI’s annual income, net worth and the existence of other life insurance policies.

The indictment also alleges that in October of 1994, SEDRATI traveled to his native Algiers, where he faked his death. YAMINA SEDRATI is then alleged to have filed a death benefit claim with Allstate, including submission of a false death certificate. Based on these submissions, the Allstate Life Insurance Company paid YAMINA SEDRATI $426,105 in January of 1996.

The scheme was first discovered by Allstate Insurance Company, who referred the case to the Chicago FBI for additional investigation.

At the time of his arrest, SEDRATI was returning to the United States for unknown reasons and was traveling under an assumed name. The suspicions of U.S. Customs Inspectors were first raised when SEDRATI arrived at Hartsfield International Airport. His identity was subsequently confirmed by FBI Special Agents, who took SEDRATI into custody.

SEDRATI appeared in U.S. District Court in Atlanta following his arrest, at which time he was ordered held without bond, pending his return to Chicago. If convicted of the charge filed against him, SEDRATI faces a possible sentence of up to twenty (20) years incarceration.

YAMINA SEDRATI, who was charged as a co-conspirator in this scheme, remains a fugitive from justice and her whereabouts are unknown.

The public is reminded that an indictment is not evidence of guilt and that all defendants in a criminal case are presumed innocent until proven guilty in a court of law.”