State warns Oregonians about insurance scam - KPTV - FOX 12

State warns Oregonians about insurance scam

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PORTLAND, OR (KPTV) -

The Oregon Department of Consumer and Business Services is warning Oregonians about an insurance scam after a transportation company discovered its commercial auto and cargo insurance was non-existent.

DCBS said they believe Umer M. Masood, under the alias Josh Capello, and Ahmed Salam are fraudulently operating Proactive Indemnity Corp., Proactive Financial Services, and ContingentCargo Co. The address for those companies is listed in Los Angeles, but there are no registered businesses in California with those names.

DCBS has ordered Proactive Indemnity Corp., Proactive Financial Services, and ContingentCargo Co. to stop selling fraudulent insurance and issued a fine of $120,000.

The Oregon transportation company who purchased the insurance online, paid $20,000 in premiums over the course of four years. They received invoices and a certificate of coverage by email from Josh Capello. The certificates were fake, and the premiums paid were deposited into banks in Pakistan.

DCBS said there may be more Oregon companies that purchased fraudulent insurance from those businesses.

Oregonians who have done business with Josh Capello, Ahmed Salam, Proactive Indemnity, Proactive Financial, or ContingentCargo Co. or with information about the entities should contact the DCBS immediately at 888-877-4894.

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