With Medicus "Equipment Leases" : Sterling Bank Commits Insurance Fraud AGAIN
In 2004/2005 Norvergence sold phone services as "equipment leases." The "equipment" was fraudulently valued by both Norvergence and Sterling National Bank to the tune of $24,000, $36,000 etc.. The equipment's real value was either $500 or $1500. See appraisal. Sterling charged insurance fees based on the fraudulent $24,000, $36,000 etc. value, NOT the real fair market (FMV) equipment value.
Now, again in the 2005-2006 Medicus Fraud, services were sold and "leased" to Doctors. Again, the "equipment" was fraudulently valued by both Medicus and Sterling National Bank as either $43,000 or $48,000. The computer's real value is only approximately $1,000 (the formal appraisal is forthcoming by a licensed appraiser). Again, Sterling charged Medicus lessees for insurance based on the fraudulent $43,000 or $48,000, NOT on the actual fair market value of the computer. (Doctors had no idea that the lease financing was for only the computer and not all of the services they were buying. They were fooled because no prices were given on the lease contract invoice that listed the equipment).
Lance Rawlings and Rhonda Roland Shearer called to notify the President and owner of American Leasing Insurance Company, Steve Dinkelaker, of this fraud. Mr. Dinkelaker said "we don't insure services" and said he would notify Sterling National Bank that this Medicus insurance is canceled and that Sterling should refund the monthly insurance fees paid by Medicus' lessees.
Lance is now waiting for his check from Sterling. Anyone who paid Sterling for insurance should contact both the insurance company, American Leasing Insurance and Sterling Bank to demand a refund. If you paid your own insurance company, notify Sterling and American Leasing Insurance of the fraud and also demand in writing a refund from Sterling.