Insurance Agent Accused of Massive Fraud Scheme
HARRISBURG — Pennsylvania Attorney General Dave Sunday has announced charges against a Montgomery County insurance agent accused of fabricating hundreds of life insurance policies to earn more than $600,000 in commissions.
Dennis Wright, 42, of Glenside, was charged Monday with felony theft by deception, identity theft, insurance fraud, and related offenses. Wright was arraigned and released on $100,000 bail.
According to the Attorney General’s investigation, between June 2020 and February 2022, Wright exploited his position as a licensed life insurance agent to defraud National Guardian Life Insurance (NGL). He created 332 fraudulent policies by forging personal information and signatures without the individuals’ knowledge or consent.
“This defendant betrayed clients and dishonored his position to line his own pockets when he was trusted to make insurance arrangements that would have provided peace of mind and financial security for Pennsylvanians,” Attorney General Sunday said in a statement. “Insurance fraud is far from a victimless crime, and my office takes it very seriously.”
The investigation revealed that Wright also created businesses to launder the $603,000 in commissions he received from NGL.
The case is being prosecuted by Deputy Attorney General Jose Perez.
It’s important to note that criminal charges are merely allegations, and all defendants are presumed innocent until proven guilty in a court of law.
