Car Wash Owners Arraigned for Alleged $3.6M Comp Fraud Scheme

Two businessmen are accused of underreporting more than $3.6 million in payroll to reduce their company's workers' compensation premium by $369,210. Behzad Bandari, 64, of Pacific Palisades, and Sam Siam, 67, of Thousand Oaks, were arraigned Wednesday in Tulare County Superior Court on nine felony counts of alleged insurance fraud, the California Department of Insurance announced. Bandari was the chief financial officer of Waterdrops Express Car Wash, and Siam was the company’s CEO. They were identified as shareholders and managing partners in a chain of car wash...