Noah Roofing Sinks During WC Fraud Flood By Robert Warne - April 10, 2003
Another roofing company’s leaky work comp practices have left its owner soaked with fraud charges.
Officials from the California Department of Insurance and the Employment Development Department arrested Young Il Kim, April 9 and put and end to his fraudulent reign.
The investigation into Kim’s business, Noah Roofing, turned up evidence that paid his employees cash under the table. This allowed him to underreport his payroll and to pay a smaller premium to State Compensation Insurance Fund between 1998 and 2000. It is estimated that this saved him $75,649 in premium payments during the two-year period.
But what seemed like a great deal at the time for Kim, he is now looking at spending 13 years in prison, fined $250,000 and pay $113,000 in restitution for his actions.
The San Francisco DA’s office has charged Kim with three felony counts of workers' compensation premium fraud and nine felony counts of payroll tax evasion.
Adjuster / Examiner Claims Examiner Santa Ana Unified School District Santa Ana, CA