The plot, dubbed "Operation Bear Claw" by Californian authorities, unfolded earlier this year when the suspects claimed that a bear had wrecked the interior of their luxurious 2010 Rolls Royce Ghost while it was parked in Lake Arrowhead, a town known for its large black bear population.
The fraudsters went so far as to submit video footage of the supposed bear attack to their insurer.
The clip showed a furry creature entering the vehicle's back seat and scratching the upholstery.
However, the footage raised suspicion almost immediately.