Former Tolland man charged in $250K life insurance fraud scheme, police say

Jul. 30—TOLLAND — A former Tolland man was arrested last week in a life insurance fraud scheme in which he is accused of collecting premiums from at least nine people in Connecticut and other states, according to state police.

Connecticut State Police said Ian Pierce, 34, used different methods and employed fake personas to collect premiums on nonexistent or lapsed life insurance policies. Detectives have identified at least nine individuals affected by the scheme, all of whom had some personal relationship with Pierce.

"Pierce also convinced some victims to invest money into CDs or other investment products that were fabricated," state police said. "The aggregate financial loss at this time is at least $250,000."

The Statewide Organized Crime Investigative Task Force began investigating Pierce after receiving a tip from the Connecticut Insurance Department about a fraud scheme occurring between 2020 through November 2024, according to state police.

Police arrested Pierce, who now resides in Epping, N.H., on July 24, charging him with first-degree larceny, four counts of second-degree larceny, two counts of third-degree larceny, one count of first-degree forgery, four counts of second-degree forgery, seven counts of third-degree forgery, nine counts of issuing a bad check for more than $2,000 and three counts of criminal impersonation.

Pierce was released from custody after posting bonds totaling $335,000 and is scheduled to appear in state Superior Court in Rockville on Aug. 7, state police said.

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