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Woman says ‘I didn’t’ to diamond ring insurance fraud charge

Posted On: Aug. 9, 2018 11:35 AM CST

Woman says ‘I didn’t’ to diamond ring insurance fraud charge

A Renton, Washington, woman pleaded not guilty Monday to charges she bilked insurance companies twice over a diamond ring she reported lost, the Washington Office of the Insurance Commissioner announced Wednesday.

Stephanie Pepper Snider, 42, allegedly filed a claim with State Farm Insurance in August 2016 for a 2-carat diamond ring she said she lost the day before. State Farm paid Snider $10,617 for the ring. In June 2017, Snider filed a claim with Allstate Insurance for the same ring, stating it had been stolen from her apartment, according to a press statement. 

When Allstate questioned Ms. Snider about the State Farm claim, she said she was not aware of the claim or payment. Allstate denied the claim and referred the case to state investigators, according to the statement. 

In April 2018, investigators interviewed Snider’s former fiancé, who had purchased the ring. He showed investigators the ring, receipt, diamond certificate and a photo of Ms. Snider wearing the ring in October 2016, after State Farm paid her more than $10,000 for the ring. The man said he was not aware that she had filed the 2016 claim with State Farm, according to the statement.