Annuity Advisor Who Faked Suicide Charged With Fraud
July 30, 2012 by Karen DeMasters
|July 09, 2012|
|An Enumclaw, Wash., financial advisor who faked his own death––and that of a client––has been charged with wire fraud by the FBI.
Aaron Travis Beaird was charged after he faked a client’s death and tried to collect the life insurance on him. He also sold life insurance and annuities to others under false pretenses and diverted clients’ funds into his own bank accounts.
After it came to light that Beaird filed a false death claim with American United Life Insurance Co., his car was found near a bridge over what is known as Deception Pass with a suicide note in it. Several clients also received notes from Beaird in which he acknowledged his fraud and he signed the letters “Travis the scam man,” according to the U.S. Attorney for the Western District of Washington.
He is charged with defrauding at least five people out of a total of $2.2 million. He was arrested last week after he returned to Washington from Scotland. He worked for Team Financial Partners in Enumclaw. Neither he nor the firm is registered with Finra.