Former Tolland Man Arrested in $250M Life Insurance Fraud Scheme Across Multiple States

Ian Pierce, 34, formerly of Tolland and now residing in Epping, New Hampshire, was arrested for orchestrating a life insurance fraud scheme that defrauded at least nine people in Connecticut and other states between 2020 and November 2024. Pierce used fake personas to collect premiums on non-existent or lapsed life insurance policies and convinced some victims to invest in fabricated CDs and other investment products, resulting in losses exceeding $250,000. After losing his insurance license in 2021 and being fired in 2020 for misappropriating client funds, Pierce continued to falsely represent himself as an agent to solicit premiums and cause legitimate policies to lapse. Authorities found forged documents, fake check templates, and bounced checks linked to Pierce, who was charged with multiple counts including larceny, forgery, issuing bad checks, and criminal impersonation. He was released on $335,000 bond and is scheduled to appear in Rockville Superior Court on August 7. The investigation was launched after a tip from the Connecticut Insurance Department and conducted by the Statewide Organized Crime Investigative Task Force.