Four Floyd County residents took part in a scheme to defraud insurance companies through inflated claims on classic or antique cars destroyed in fires, a federal grand jury charged Thursday.
The grand jury filed wire fraud charges against Charles Ray Tackett, Michael Ray Tackett, Lou Teresa Tackett and Anna Grace McGuire.
The four allegedly took out insurance policies on cars based on estimates from Harold Auto Body, a body shop in Floyd County, of the cost to restore them.
In July 2010, for instance, Michael Ray Tackett insured a 1984 Pontiac Firebird based on a restoration estimate of $45,400.
In reality, the Pontiac and other cars involved in the case were worth far less because they were not restored, the indictment said.
The indictment said the garage did no restoration on most of the cars. The only work mentioned in the charges was $150 to repair a fender on a 1979 Trans Am on which the full restoration estimate was $36,400.
The indictment listed six cars on which members of the conspiracy made claims after the cars were destroyed in fires.
The charges in the indictment carry a maximum sentence of 20 years.