CONNECTICUT — A former insurance agent from Connecticut is accused of orchestrating a multi-state life insurance fraud scheme that targeted at least nine individuals, according to state investigators.
Ian Pierce, 34, was arrested last week following a months-long investigation led by the Statewide Organized Crime Investigative Task Force, Connecticut State Police announced.
Pierce, who lost his job in March 2020 for allegedly misappropriating client funds, continued to present himself as a working insurance agent, investigators said. The Connecticut Insurance Department revoked his license in June 2021 after determining he had stolen from client accounts, accepted payments on canceled policies, and issued unauthorized loans to himself.
Despite his dismissal and license revocation, Pierce reportedly convinced clients, friends, and family that he had joined a new insurance company. Using fake documents—including forged bank receipts, insurance forms, and fabricated emails—he maintained the illusion for years, according to police.
One of Pierce’s alleged victims was a friend who lent him $4,400 for a supposed business deal. Months later, Pierce attempted to repay the loan with two cashier’s checks, both of which bounced. Police say the checks matched others used in his life insurance schemes. The friend told authorities they suspect the loan was used to cover gambling debts rather than a legitimate deal.
Pierce now faces a long list of criminal charges, including:
First-degree larceny
Four counts of second-degree larceny
Two counts of third-degree larceny
First-degree forgery
Four counts of second-degree forgery
Seven counts of third-degree forgery
Nine counts of issuing bad checks over $2,000
Three counts of criminal impersonation
He was released on a $335,000 bond. State police say the investigation remains ongoing.
