North Attleboro insurance agent charged with fraud, identity theft

PROVIDENCE, R.I. (WLNE) — A North Attleboro insurance broker has been charged in Rhode Island federal court on wire fraud and identity theft charges.

Francis Bruno Ragusa, 53, allegedly entered into a scheme to obtain thousands in commissions from a life insurance company.

This scheme involved using clients’ identity information to sign them up for end of life insurance policies and draw money from their bank accounts to pay for the policies.

This was all allegedly done through Ragusa’s company Atlantic Coast Senior Solutions, Inc.

It was determined during the investigation that between December 5, 2022, and February 9, 2023, 150 policy applications were submitted to Great Western Insurance Company (GWIC).

Some of the names on applications were those of people who had since passed away.

It is alleged that Ragusa received $134,660.90 in advanced commission and an additional $2,295 in commissions.

Ragusa owes GWIC $70,379.47.

His license to sell insurance in Rhode Island has been revoked.