Foresters Life Insurance Company, in cooperation with the Independent Order of Foresters, has filed a suit in B.C. Supreme Court alleging that a former director of sales operating in the province had opened over 100 fictitious client applications over the past six years.
Purportedly, the former agent used the numerous fake accounts to convince Foresters of his performance as director, allowing him to claim more than $650,000 in commissions.
The civil claim asserted that Paul Brian Bradbeer committed acts of fraud from 2010 to November 2016 “by exploiting his position of trust as the director of sales, British Columbia, of Foresters and as a licensed life insurance broker, by submitting an extensive series of fictitious client applications.”
According to the suit, Bradbeer’s scheme convinced the company to pay him advance commissions on the strength of client applications that turned out to be falsified.
The claim said that the total dollar amount of commissions Bradbeer collected through his scheme could not be quickly determined, as he “deliberately concealed his actions”. Foresters’ investigation, however, identified over $650,000 that was collected by the agent through “fraudulent and dishonest conduct”.
Vancouver Sun reported that none of the allegations set out in the civil claim have been tested in court, nor have criminal charges been laid against Bradbeer.
The Insurance Council of B.C. confirmed that Bradbeer continues to hold an active insurance agent’s license, but the organization is aware of the allegations. Council executive director Gerry Matier said that Bradbeer had no prior disciplinary history in B.C.
Foresters has reassured its consumers, telling them that the alleged scheme seemingly did not affect any policies.
“There is no indication at this time that individual members or policyholders are adversely affected in any way,” Foresters Financial spokeswoman Lori Abbott told
Vancouver Sun in an email.
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