ORANGE— On April 5, 2021, the California Department of Insurance (CDI) announced Piyaresth Tangchaidee, also known as Peter Tang, 33, of Chino, was arraigned on two felony counts of insurance fraud after allegedly renting out his luxury vehicles and making fraudulent statements after the cars were involved in collisions in order to receive undeserved insurance payouts. Tangchaidee was not licensed or insured to rent vehicles, which he advertised on social media under the name “Gold Life Cars.”
CDI launched an investigation after Tangchaidee’s auto insurance company suspected fraud following a collision involving his 2011 Maserati Gran Turismo. The investigation revealed Tangchaidee filed three suspected fraudulent claims involving his 2015 Maserati, 2011 Maserati and 2012 Rolls Royce. Tangchaidee rented out the luxury cars and later misrepresented the facts after the collisions because his insurance policies excluded rentals and the claims would have been denied. His alleged fraud resulted in a potential loss of more than $100,000 to his insurance company. The accidents occurred in Orange and Los Angeles counties.
“CDI detectives investigate insurance fraud throughout the state, which unfortunately is a huge problem in California,” said California Statewide Law Enforcement Association (CSLEA) President Alan Barcelona. “Insurance fraud translates into higher insurance premiums for all of us and insurance companies make up the difference. It is not a harmless crime, we all suffer as a result of it.”
In June 2016, Tangchaidee’s 2015 Maserati was destroyed in a single vehicle collision when the driver collided with a raised center median. Tangchaidee filed a claim with his insurance company stating his friend was driving the car when the collision occurred. His insurance company deemed the 2015 Maserati a total loss and paid $53,787 to the lienholder.
In March 2017, Tangchaidee’s 2011 Maserati was destroyed when the driver who rented the car collided with two vehicles at a stopped red light.
In April 2017, Tangchaidee claimed he damaged his 2012 Rolls Royce in a single-vehicle collision, but a witness refuted Tangchaidee’s claim.
After each of the three collisions, Tangchaidee filed claims with his auto insurance company and made questionable statements about who was driving the vehicles and how the collisions occurred. CDI detectives collected evidence showing Tangchaidee rented each of the three vehicles and obtained social media posts with photos of the vehicles.
Tangchaidee was arraigned on Friday, March 26, 2021. The Orange County District Attorney’s Office is prosecuting this case.