Life insurers to get $1.5 million back after Fla. man faked his death
A Florida man must pay $1.5 million to two life insurance companies after being convicted of a conspiracy charge connected to his faked death on a family trip to Malaysia in October 2003.
Vij Misir, 46, was sentenced to 36 months of imprisonment, three years of supervised release, and restitution in the amount of $1.5 million to Midland National Life Insurance Company of Sioux Falls and $495,000 to West Coast Life, according to U.S. Attorney Brendan V. Johnson. Misir was convicted of conspiracy to commit mail fraud in federal court in South Dakoka.
Earlier in the day, the same judge, U.S. District Judge Lawrence L. Piersol accepted a guilty plea to the same charge from Misir’s ex-wife and co-defendant, Rajmatee Kapadia.
In her plea agreement, Kapadia accepted joint and several liability for the insurance restitution amounts imposed upon Misir.
Misir and Kapadia were indicted for conspiracy to commit mail fraud by a federal grand jury Sept. 15, 2009. The indictment charged that in October 2003, Vij Misir and his then-wife, Kapadia, faked Misir’s death during a family trip to Malaysia. Prior to and during this time, they were having serious financial problems.
They had amassed three separate life insurance policies on Misir’s life, totaling $7 million in coverage. Kapadia was sole beneficiary on the policies. After staging his death, Kapadia made claims on the three insurance policies, and she ultimately collected $1,995,000, prosecutors say.
Misir remained in hiding for just over five years until, on Dec. 11, 2008, he presented himself at the United States Embassy in Jakarta, Indonesia, attempting to renew his U.S. passport. Misir pleaded guilty to the indictment in October 2010.
Last November, Kapadia was charged in a superceding indictment with two counts of fraud against the Social Security Administration for allegedly making a false application and then receiving $56,703 in survivor benefits for herself and their two children. As part of her plea, prosecutors say, those Social Security fraud charges are to be dismissed, but Kapadia has agreed to pay $56,703 in restitution to the Social Security Administration.
Kapadia’s sentencing is scheduled for July 25, where she could face up to 20 years in prison and up to $250,000 in fines.


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