Organized Life Insurance Fraud Scheme Uncovered in Connecticut

Ian Pierce, a former insurance agent from Tolland, Connecticut, was arrested for orchestrating an insurance fraud scheme involving life insurance policies between 2020 and 2024. The investigation, led by the Statewide Organized Crime Investigative Task Force and triggered by a tip from the Connecticut Insurance Department, revealed Pierce used fake identities to collect premiums on non-existent or lapsed policies affecting at least nine individuals in Connecticut and other states. After being terminated for misappropriation of client funds and having his insurance license revoked in 2021, Pierce continued fraudulently claiming to be an agent and soliciting premiums, leading to the lapse of legitimate insurance policies for victims.