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GlobalOptions Group, Inc., (NASDAQ: GLOI), a leading provider of global and domestic risk mitigation services, uses their GlobalTrak(TM) Case Management System to assist clients around the country with the investigation of fraudulent claims, often leading to the arrest, prosecution and conviction of individuals seeking to defraud insurance companies, third-party administrators, legal firms and public entities. Based on GlobalTrak's arrest records, California, Florida, New York and New Jersey lead the country in insurance fraud arrests:
1. California - 67 2. Florida - 32 3. New York - 8 / New Jersey - 8
Other states that have seen arrests and convictions thanks to GlobalTrak include Texas, Georgia, Ohio, Alabama and Illinois.
As of August 31, 2009, the GlobalTrak system has lead to a total of 133 arrests, 95 convictions and almost $1.5 million awarded in criminal restitution, saving millions of dollars for GlobalOptions' clients. GlobalOptions routinely partners with insurance carriers to combat fraudulent claims and has been working diligently over the past year to stop the increase in insurance fraud. The GlobalTrak system offers users an integrated web-based communications platform that allows GlobalOptions' clients to track the status of investigations in real time, leading to more efficient management of assignments, evidence and reporting.
"The GlobalTrak solution is instrumental in aiding in the investigation of insurance fraud across the country," says Frank Pinder, President of GlobalOptions' Fraud & SIU division. "We are proud to be working with law enforcement agencies to combat fraud and confident that our technology continues to streamline the case management process for our clients and foster increased communication between our clients and our Special Investigation personnel."
About GlobalOptions Group, Inc.
GlobalOptions, with headquarters in New York City and offices in 16 cities, is an integrated provider of risk mitigation and management services to government entities, FORTUNE 1000 corporations and high net-worth and high-profile individuals throughout the world. We enable clients to identify, assess and prevent natural and man-made threats to the well-being of individuals and the operations of governments and corporations. In addition, we assist our clients in recovering from the damages or losses resulting from the occurrence of acts of terror, natural disasters, fraud and other risks. Our services currently include risk management, security, investigations, litigation support, anti-fraud solutions, business intelligence, and crisis management and preparedness services. Additional information can be found at www.globaloptions.com.
Statements in this press release regarding the company's business that are not historical facts are "forward-looking statements" that involve risks and uncertainties. The company wishes to caution readers not to place undue reliance on such forward-looking statements, which statements are made pursuant to the Private Securities Litigation Reform Act of 1994, and as such, speak only as of the date made. To the extent the content of this press release includes forward-looking statements, they involve various risks and uncertainties including the successful integration of the acquired businesses, projected financial information, and the continued successful implementation of the company's business strategy.
Certain of these risks and uncertainties will be described in greater detail in GlobalOptions Group's filings with the Securities and Exchange Commission. GlobalOptions Group is under no obligation to (and expressly disclaims any such obligation to) update or alter its forward-looking statements whether as a result of new information, future events or otherwise.
SOURCE: GlobalOptions Group, Inc.
Lippert/Heilshorn & Assoc. PR: Adam Handelsman, 212-201-6622 ahandelsman@lhai.com or IR: Jody Burfening, 212-838-3777 jburfening@lhai.com
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The Connors Group, Inc. ("Company") is not an investment advisory service, nor a registered investment advisor or broker-dealer and does not purport to tell or suggest which securities or currencies customers should buy or sell for themselves. The analysts and employees or affiliates of Company may hold positions in the stocks, currencies or industries discussed here. You understand and acknowledge that there is a very high degree of risk involved in trading securities and/or currencies. The Company, the authors, the publisher, and all affiliates of Company assume no responsibility or liability for your trading and investment results. Factual statements on the Company's website, or in its publications, are made as of the date stated and are subject to change without notice.
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