The United States Attorney's Office

Northern District of Iowa

Press Releases

NEVADA MAN CHARGED WITH DEFRAUDING LIFE INVESTORS IN CEDAR RAPIDS

September 6, 2007

Contact: Ian Thornhill

United States Attorney Matt M. Dummermuth announced today that WILLIAM REED JENKINS, age 59, from Las Vegas, Nevada, formerly of California, has been charged with six counts of wire fraud. The charges are contained in an Indictment filed August 28, 2007, in United States District Court in Cedar Rapids.

The Indictment alleges JENKINS and others devised and executed a scheme to defraud Life Investors Insurance Company of America by obtaining life insurance policies in the names of individuals with serious health conditions by fraudulently submitting life insurance policy applications that JENKINS knew contained false information about the applicant, including the applicant's true health condition and employment status. The Indictment further alleges JENKINS' co-schemers paid the premiums on the fraudulently obtained policies and then attempted to collect death benefits when the sometimes seriously ill insured died.

If convicted, JENKINS faces a sentence of up to 20 years' imprisonment, a $250,000 fine, a $100 special assessment, and 3 years of supervised release following any imprisonment for each count.

JENKINS appeared in federal court on August 31, 2007, and was released pending his October 22, 2007, trial.

As with any criminal case, a charge is merely an accusation, and a defendant is presumed innocent until and unless proven guilty.

The case is being prosecuted by Assistant United States Attorney Ian K. Thornhill and was investigated by the Federal Bureau of Investigation.