On Wednesday, October 13th, Matthew John Ryan, a former Appointed
Agent for The Hartford Life Insurance Company and Nationwide Life Insurance Company, was sentenced to 10
years in prison for his guilty plea relating to the theft of variable annuity contract
assets transferred into his control from Hartford and Nationwide variable annuity contracts.
Ryan admitted creating fictitious companies to steal variable annuity contract assets from his customers
who held variable annuity contracts issued by The Hartford and Nationwide.
Matthew Ryan previously admitted to diverting more than three million
dollars in said scheme. The scam involved variable annuity contracts issued by Hartford Life
Insurance Company and Nationwide Life Insurance Company in an apparent Ponzi scheme. Two other
insurance companies have already settled claims of fixed variable annuity customers of Ryan, though
there remain pending combined claims in excess of three million dollars against The Hartford and
We offer a free initial consultation to former customers of Mr. Ryan who
have had monies wrongfully diverted out of their Hartford and Nationwide variable annuity contracts.
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