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Local 5 - weareiowa.com | Des Moines Local News & Weather | Des Moines, Iowa

Iowa insurance agent headed to prison for mail fraud

A central Iowa insurance agent was sentenced to more than eight years in prison for defrauding elderly clients.
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A central Iowa insurance agent was sentenced to more than eight years in prison for defrauding elderly clients.

60-year-old Roger Duane Goodwin was sentenced Tuesday to 97 months in federal prison to be followed by three years of supervised release for Mail Fraud charges in the United States District Court for the Southern District of Iowa.

United States District Court Judge Rebecca Goodgame Ebinger ordered Goodwin pay restitution to the victims totaling $934,931.21 and ordered Goodwin’s residence in Windsor Heights and a Harley Davidson motorcycle be forfeited to the United States.

Goodwin was found guilty of seven counts of mail fraud on in August following a four-day jury trial.

Goodwin owned and operated “Goodwin Network of Advisors, Inc.”, also known as “Goodwin Network”, “GN of A”, and “GNA Corp.” and sold life insurance and annuities to individuals in the Des Moines and Houston, Texas areas.

From February 2013 through August 2016, Goodwin advised several of his clients to surrender or cash out existing investments totaling over $1 million in order to use those funds to purchase insurance products from him. Instead of purchasing insurance policies or annuity contracts for these clients as promised, Goodwin deposited the clients’ checks into a bank account associated with Goodwin Network of Advisors, which only Goodwin and his spouse could access.

Goodwin kept all or large portions of the funds and used the money for unauthorized purposes that were not for the benefit of the affected clients. Goodwin used his clients’ money, unbeknownst to them, for his personal expenses including paying his mortgage, making vehicle payments, remodeling and other home improvement for his residence, travel and various personal retail expenditures. Goodwin used small portions of the client’s funds in order to repay other clients of Goodwin’s and to make payments to the insurance companies for the benefit of other clients whose money Goodwin had failed to earlier send to the insurance company.

“Roger Goodwin targeted elderly citizens, won their trust, and then took their money through fraud,” said United States Attorney Marc Krickbaum. “This lengthy prison sentence holds him accountable, and it should serve as a warning to anyone who is tempted to prey upon our seniors.”

The case was investigated by the Federal Bureau of Investigation and prosecuted by the United States Attorney’s Office for the Southern District of Iowa.