Raymond Man Sentenced For Mail Fraud
For Immediate Release
U.S. Attorney's Office, District of Nebraska
United States Attorney Deborah R. Gilg announced that United States District Judge John M. Gerrard sentenced Gerald C. Bryce, age 50 of Raymond, Nebraska, to 18 months imprisonment, to be followed by a 3 year term of supervised release following his earlier guilty plea to mail fraud.
Bryce had been an insurance agent and in that capacity would collect premium payments from customers to be sent to the insurance company providing the customers’ coverage. One couple found that their life insurance policies lapsed because Bryce had not forwarded the money he had collected to the insurance companies. In 2011 they had paid him $259,167.19 for premiums for life insurance policies that had lapsed. The failure to forward the payments was not immediately discovered as Bryce had the information from the insurance companies mailed to him. After learning of the lapsed policies, the victims filed a civil suit and, as part of a settlement in that case, Bryce did pay some of the monies he stole.
In 2010, Bryce defrauded another couple of $41,983.55, by telling them to withdraw the cash value of a life insurance policy they owned and give him the money for safekeeping. He said he was concerned about a former business partner taking the money. Bryce then changed the mailing address of that couple to his address and kept the money for himself.
Judge Gerrard also ordered Bryce to pay $107,591.51 to the two couples. That amount accounts for the losses they incurred that were not covered by the civil case.
The case was investigated by the Nebraska Department of Insurance and United State Postal Inspection Service.
Updated February 20, 2015