A Windsor Heights man has been sentenced to eight years in prison for scamming customers into buying fake life insurance policies and investments.
Roger Duane Goodman, 60, was sentenced Tuesday to 97 months in prison followed by three years of supervised release, according to a news releaseÂ from the office of U.S. Attorney Marc Krickbaum, who handles cases in the southern district of Iowa.
U.S. District Court Judge Rebecca Goodgame Ebinger also ordered Goodwin to forfeit his Windsor Heights home and Harley Davidson motorcycle and pay $935,000 in restitution to his victims.
Authorities told the jury at trial that Goodwin owned and operated “Goodwin Network of Advisors, Inc.,” also referred to as “Goodwin Network,” “GN of A,” and “GNA Corp.,” which sold life insurance, annuities and other investment products to people in the Des Moines and Houston, Texas, areas.
From February 2013 through August 2016, Goodwin advised several clients to cash out or surrender existing investments so they could buy insurance products from him, according to the release. Instead of purchasing those insurance products, Goodwin then deposited the clients’ checks, totaling over $1 million, into a bank account that only he and his spouse could access.
Goodwin then kept all or large portions of his clients’ money, using it for his personal expenses, to repay other clients and to make payments to insurance companies on behalf of other clients whose money Goodwin had previously failed to send to insurance companies, the release states.
“Roger Goodwin targeted elderly citizens, won their trust and then took their money through fraud,” Krickbaum said in the release. “This lengthy sentence holds him accountable, and it should serve as a warning to anyone who is tempted to prey upon our seniors.”
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