LOS ANGELES -- Two women took out millions of dollars in life insurance on two homeless men who later died in alleyways in mysterious hit-and-run crashes,.

Police said the women alternately claimed to be a fiancee, relative or business partner of the two men to secure insurance policies worth more than $4 million US. They ultimately collected $2.2 million US and sued other companies that wouldn't pay up.

Police Lieut. Paul Vernon said authorities had the women under surveillance since last fall and arrested them this week for fear more homeless people were in danger.

"Anyone would think that even though they're making financial gains for this, that they would leave the actual dirty work to someone else or hire someone," Kilcoyne said. "We're not so sure about that anymore."

In court papers, the FBI said the women befriended McDavid and Vados and provided them with apartments in exchange for their signatures on life insurance policies.

The women then duplicated Vados' and McDavid's signatures on rubber stamps and used them to secure more than a dozen other policies, the FBI said.

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