The Department of Insurance and Financial Services Continues Fight Against Fraud
FOR IMMEDIATE RELEASE: April 30, 2018
(LANSING) The Michigan Department of Insurance and Financial Services (DIFS) continues efforts to fight fraud in both the insurance and financial services industries. Most recently, DIFS and the Attorney General’s Office (AG) worked together to prosecute fraudsters Brian Lietzau from Paw Paw and Stanley Hayes from Saginaw. The matters were initially investigated by DIFS and then referred to the AG for prosecution.
Lietzau faces seven felony charges stemming from abuse of his authority as Power of Attorney for a woman suffering from Alzheimer’s Dementia.
Hayes was sentenced to up to 20 years in prison on 13 felony counts after he stole $710,000 from the Valley State Credit Union. Hayes was also ordered to pay $709,000 in restitution as well as $1,014 in state costs and fees.
“We remain focused on continuing our efforts to provide regulatory oversight of the insurance and financial services industries and ensure that the businesses within these industries are safe, sound, and entitled to the public's confidence,” said DIFS Director Patrick McPharlin. “We appreciate the strong partnership we have forged with the AG in prosecuting these cases.”
The mission of DIFS is to work to provide a business climate that promotes economic growth while ensuring that the insurance and financial services industries are safe, sound and entitled to public confidence. DIFS provides consumer protection, outreach and education services to Michigan citizens. It strives to create and maintain active relationships with both consumers and licensees in the insurance and financial services industries to ensure adequate protections while fostering growth, strength and sustainability.
If you feel you may be a victim of fraud, please contact DIFS at 877-999-6442.