First National Bank ex rel. National Surety Co. v. Merchants Trust Co.

This suit grows out of the acts of one Balcer, who was the agent in Camden of the Colonial Life Insurance Company, and who carried out a scheme to defraud the insurance company by submitting to the company bogus certificates of death upon the lives of fictitious persons, upon which names policies of insurance had been issued. Upon submission of these proofs, the insurance company forwarded to Balcer checks payable to the fictitious beneficiaries. Balcer wrote the name of the fictitious person on the hack of the checks, then below such name placed his own endorsement and collected the amount…