Raymond, Nebraska resident Gerald C. Bryce, 50, has been sentenced to 18 months imprisonment for a brazen scheme of mail fraud, United States Attorney Deborah R. Gilg announced.
Bryce, once an insurance agent, exploited his position by collecting premiums from unsuspecting customers and failing to forward the payments to the respective insurance companies. One couple discovered their life insurance policies had lapsed when Bryce failed to send $259,167.19 in premiums they paid in 2011.
The theft was not immediately detected as Bryce orchestrated the mailing of insurance company information directly to him. Following the victims’ civil suit and subsequent settlement, Bryce did repay some of the stolen funds.
In another instance in 2010, Bryce duped another couple out of $41,983.55 by convincing them to withdraw cash from their life insurance policy for ‘safekeeping’. He then altered their mailing address to his own, pocketing the money.
United States District Judge John M. Gerrard imposed a sentence of 18 months in prison, followed by a 3-year supervised release. Additionally, Bryce was ordered to pay $107,591.51 to the affected couples for losses not covered by the civil case.
The investigation into Bryce’s fraudulent activities was conducted by the Nebraska Department of Insurance and the United States Postal Inspection Service.
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Key Facts
- State: Nebraska
- Agency: DOJ USAO
- Category: Fraud & Financial Crimes|Public Corruption
- Source: Official Source ↗
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