A man and a woman have been arrested by FBI and IRS agents for their role in a scheme to defraud a Northern California woman of approximately $200,000 in life insurance proceeds. Raymond Brogan, 41, was arrested over the week-end in Marin County and Carol Damico, 33, was arrested this morning at her residence in Roseville. Both arrests were without incident
In November 2007 the victim in this case was notified by the U.S. Marines that her son, a Marine, had been killed during a training accident in San Diego, California. During the death notification Damico and Brogan, who were both present at the victim’s residence, became aware of approximately $200,000 in life insurance proceeds that was due the victim. Mr. Brogan told the victim that he would assist her with the insurance paperwork so she could grieve for her son. Mr. Brogan told the victim that he would invest a portion of the insurance money in an investment for her and use the remaining funds to pay her outstanding bills.
In December 2007 Mr. Brogan asked the victim to sign a number of documents, one of which was a power of attorney. The power of attorney allowed Mr. Brogan to gain access to the life insurance proceeds which he did using a checkbook from Prudential Alliance Bank. Mr. Brogan convinced the victim to signing several checks by telling her that the checks would be deposited into her bank account. Investigation has revealed that Brogan and Damico used all of the life insurance proceeds to purchase luxury items for their own personal use and did not invest any of the life insurance proceeds on behalf of the victim. Some of the items purchased included flat screen televisions, new furniture and several large payments to financial accounts controlled by Brogan.
Both Brogan and Damico made their initial appearance today in federal court. Mr. Brogan was detained while Ms. Damico was released on bond.
