North Attleboro insurance broker sentenced for $137,000 in fraud
Oct 09, 2024
PROVIDENCE, R.I. (WLNE) — An insurance broker based out of North Attleboro has been sentenced in a scam that collected nearly $137,000 in sales commissions from unwitting clients.
Bruno Francis Ragusa, 53, of North Providence, pleaded guilty in July to wire fraud and was sentenced Wednesday to a federal prison term of 18 months, according to the Rhode Island United States Attorney’s Office.
Ragusa submitted fabricated insurance applications for end-of-life insurance policies in clients’ names without their knowledge.
He then used their personal and banking information to pay for the policies.
Ragusa admitted to doing this more than 50 times, resulting in his collection of $136,956.56 in commissions.
He was ordered to pay $70,379.47 in restitution to the insurance companies.
Categories: Massachusetts, News, Rhode Island