A former Connecticut insurance agent faces 20 years in prison for his conviction in a scheme to cheat investors out of more than $120,000, federal prosecutors say.
Christopher Scull, 36, of Naugatuck pleaded guilty in New Haven federal court to two counts of mail fraud related to his scheme, the Connecticut U.S. Attorney’s Office said.
According to investigators and court papers, Scull, while working with Bankers Life & Casualty Co., devised and implemented his scheme between June 2011 and January 2014.
Scull induced one victim to make withdrawals from her annuity by claiming she owed certain account fees and give him the money, which he used for his own benefit, investigators said.
In addition to prison time, Scull faces a fine of up to $250,000 on each felony count when he is sentenced next March 10, authorities said.
