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We've come across the so-called "Irish Travelers" before:

"[A] secretive in addition to nomadic ethnic grouping whose members oftentimes garner their wealth past times doing dubious repair go in addition to executing scams — in addition to past times taking out exorbitant life insurance policies on ane another."

But that was then, in addition to this is, well, now:

"An insurance agent was sentenced to 2 years inward federal prison theater Mon for his role inward the ghoulish schemes of S.C. Irish Gaelic Travelers to brand upwards to $33 ane thou one thousand off the deaths of elderly or sick people."

Wait, what??

When nosotros wrote that outset post service on '15, it never actually occurred to me that the agent(s?) would bring had whatever straight interest inward the actual fraud. But apparently, there's decent dollars to last made (for a while, anyway), since at to the lowest degree 3 agents were complicit inward the scheme, which went on for at to the lowest degree four years.

My favorite component division if this, though, is the defense's claim that:

"[O]nly companies were victimized, non individuals. "He is non a somebody similar Bernie Madoff, who was taking peoples' funds."

/sigh

The stupid, it burns.

And it's non every bit if this was a one-off sort of deal:

"Once he showed them he would violate the law, they started approaching him in addition to kept on approaching him ... Hundreds of these policies violated the law."

So how did it work?

Well, underwriting life insurance policies isn't simply well-nigh pinnacle in addition to weigh, smoker or no. There's likewise a fiscal aspect: carriers expect askance at agents writing ane thou one thousand dollar policies on, say, Walmart greeters. In this case, the agents manifestly "inflated the internet worth in addition to income of the somebody beingness insured."

Which seems to me to advise that these weren't necessarily outrageously large human face upwards amounts, which would typically enhance dwelling solid purpose flags every bit good every bit require (typically) an actual physical exam. But hundreds of $75,000 plans *still* adds upwards to a pretty large payday, no?

[Hat Tip: co-blogger Bob V]