Filing a false report of a crime is a misdemeanor in Georgia. A misdemeanor is an offense punishable by no more than 12 months in jail and a $1,000 fine (misdemeanors of a high and aggravated nature have a maximum fine of $5,000).
However, your post also suggests that this may have been an attempt to fraudulently recover from an insurance company for a loss that never really occurred. If that is the case, the person could be charged with attempted theft by deception or even insurance fraud, both of which are much more serious, felony offenses.
In either case, you should consult with an experienced criminal defense attorney. Acting quickly to resolve the matter rather than waiting to see what the prosecutor will do may mean the difference between a small fine and community service for several years in the penitentiary.