Many elderly insurance customers across Colorado find themselves fallen victim to a Denver insurance salesman’s scheme. According to ABC 7 News in Denver, a recently fired Denver insurance salesmen is accused of stealing $1.04 million from elderly victims for more than seven years.
The man was arrested last Friday and remains in Denver jail with bond set at $500,000. He admitted to a company security director at Conesco Insurance & Bankers Life Insurance that he borrowed more than $800,000 from clients. The company’s internal investigation shows 25 clients had given the salesman money starting in January 2003. The clients believed they were investing in real estate deals; they were promised that these deals were better than the business they were already doing with Bankers Life annuities.
We at Dagley Insurance hate to see stories like this, especially when this could have been prevented. It can be hard not to fall victim to schemes that sound so promising. Before you make any ventures with an insurance company, you should always talk to your local Colorado independent agent. They will take the time to review your policy needs and help to advise any ventures that have your interest.