Insurance Agent Faces Prison for Rewriting Policies to Gain Commissions

A North Attleboro Insurance Agent pleaded guilty and was sentenced to 18 months in prison followed by two years of supervised release on a charge of wire fraud.  He was ordered to pay a $100 assessment fee and $70,379 in restitution.

The North Attleboro Insurance Agent was the owner of an Insurance Company of North Attleboro and also worked with other various insurance companies.  Many policyholders from Senior Life Insurance Company reported that life insurance policies they purchased from the North Attleboro Insurance Agent had been cancelled without their knowledge or consent. Investigation revealed concerns with some of the North Attleboro Insurance Agent’s business practices when securing life insurance policies for clients.

The North Attleboro Insurance Agent had cancelled policies for clients without their consent.  One policyholder reported that after nine months of selling the first insurance policy to customers, the North Attleboro Insurance Agent obtained his commission.  After receiving his commission, the North Attleboro Insurance Agent called clients and explained that they could obtain additional benefits under their current insurance policy.  Instead of obtaining additional benefits under the insurance policy, the North Attleboro Insurance Agent signed and sent policy cancellation requests without customer's knowledge.  He then applied for new insurance policies at different insurance companies in his respective customers names without their knowledge or permission, in order to obtain an additional commission.