A Hudson Valley man is accused of making up a story that his boat drifted away, so he could receive nearly $500,000 in an insurance claim.

On Wednesday, New York State Police in Rhinebeck arrested 43-year-old Robert Jacob Bump of Red Hook for insurance fraud, falsifying business records, both felonies, and a misdemeanor for falsely reporting an incident.

According to State Police, in the fall of 2016, Bump reported to the Village of Red Hook Police Department that his 37 foot Boston Whaler powerboat drifted away from its mooring on the Hudson River.

An insurance claim was made on the boat and Bump received approximately $480,000.

An investigation revealed that the boat was never missing and was found in May in Lindenhurst, while still in the possession of Bump, police say.

Bump was arraigned in the Village of Red Hook Court and released on his own recognizance, he is scheduled to reappear on June 21.

The State Police in Rhinebeck were assisted by New York State Police, Troop L Bureau of Criminal Investigation in Brentwood, the New York State Police, Troop NYC Bureau of Criminal Investigation in Manhattan, and the Village of Red Hook Police Department.