3 Face Federal Charges Over Collapse Of Livermore Truck Insurance Company

CBS San Francisco

December 20, 2023

PLEASANTON – A federal grand jury has indicted three people on fraud and other charges in connection with the collapse of a truck insurance company that was once headquartered in Livermore, prosecutors announced Tuesday.

According to Northern California U.S. Attorney Ismail Ramsey's office, 67-year-old Jasbir S. Thandi of El Sobrante, 47-year-old Sandeep Sahota of Concord and 40-year-old Jaspreet Padda have been charged with crimes that led to the insolvency of Global Hawk Risk Retention Group. Prosecutors said the company provided liability insurance coverage for truck drivers and small trucking companies before it collapsed in May 2020.

All three suspects have been charged with conspiracy to commit insurance fraud and two counts of insurance fraud (making false statements to regulators). Thandi faces additional two additional insurance fraud charges (misappropriation), along with two counts of bank fraud.

Click here for the full story via CBS San Francisco

CBS Local Digital Media personalizes the global reach of CBS-owned and operated television and radio stations with a local perspective.