Pa. man arrested for posing as insurance agent, stealing $32,000
October 16, 2015 by IFAWebnewsStaff
A Southeastern Pennsylvania man has been charged with posing as an insurance broker and stealing more than $32,000 from a local couple through non-existent life insurance policies.
Stephen A. Strope, 67, of Limerick, Pa., was arrested by Montgomery County (Pa.) law enforcement and charged with forgery, theft by deception, identity theft, unlicensed broker activity and theft by unlawful taking.
Strope allegedley claimed to be an insurance agent, selling what he said was life insurance coverage through American Equity Investment Life Insurance Company. But Strope deposited checks for $32,123 into his own bank account, officials said, and never forwarded them to the company.
An investigation began in April when the West Norriton, Pa., couple could not verify with American Equity that any such coverage existed.
Officials said others who may have had dealings with Strope should contact law enforcement.