North Attleboro insurance broker gets 18 months in prison for fraud scheme

PROVIDENCE — A North Attleboro insurance broker was sentenced Tuesday to 18 months in federal prison for fabricating applications for end-of-life insurance policies in clients' names in order to collect over $135,000 in commissions.

Bruno Francis Ragusa, 53, who operated Atlantic Coast Senior Solutions Inc. on Route 1 in North Attleboro, was also sentenced in U.S. District Court in Providence to two years' probation following his release from prison, according to the Rhode Island U.S. attorney's office.

Ragusa was also ordered to pay almost $70,380 to Great Western Insurance Co., an Iowa-based life carrier that paid him $136,956 in commissions. The restitution represents the amount of funds that have not been recouped, the U.S. attorney's office said.

Ragusa pleaded guilty on June 20 to wire fraud after admitting he submitted over 50 end-of-life insurance policy applications with the forged electronic signatures of clients and used their banking and personal information without their knowledge or authorization, according to the U.S. attorney's office.

Great Western repaid the victims after they learned of the fraud, according to court records.

Ragusa was arrested March 12 and had been free on unsecured bond.

His license to sell insurance in Rhode Island was revoked on Nov. 28, according to the U.S. attorney's office.

His license in Massachusetts was revoked in April when it was set to expire, according to the state Division of Insurance.

The case was investigated by the FBI with help from the U.S. attorney's office in Boston and North Attleboro police.