Advisors are under the microscope for “insurable interest” during the trial of a man who murdered two wives 20 years apart.
Advisors are under the microscope for “insurable interest” during the trial of a man who murdered two wives 20 years apart.
During trial, it came to light that accused murder, Harold Henthorn, fraudulently took out a life insurance policy on Grace Rishell, the sister in law of his first wife.
In a case that raises serious questions about the due diligence of advisors and insurers, the FBI discovered that Henthorn had forged her signature to make himself the sole beneficiary on a $400,000 life insurance policy, after she cancelled the original application.
Henthorn is on trial for the murder of his second wife, Toni Bertolet, and investigators have reopened their investigation into the suspicious death of his first wife, Lynn Rishell, some 20 years earlier. Grace Rishell is Lynn’s sister in law.
In both cases, Henthorn was named as the sole beneficiary for a string of lucrative life insurance policies totalling $500,000 for his first wife and $4.5million for Bertolet.
It appears that Grace Rishell was his next victim, though.
She was “concerned for her financial stability’ when she was going through a divorce so she initially agreed to Henthorn taking out a policy that would pay $50,000 to Rishell’s brother and each of her four daughters for a total of $250,000.
But after having a change of heart Rishell told the advisor to stop the policy from going through, in the spring on 2010.
“That was his doing. I did not authorize that policy,” she said. “He profits, not my girls. I feel he came in and just preyed on my vulnerability.”
Instead she took out a policy of her own with another insurer.
“I think it's logical to conclude that he was planning on taking my life at some point,” Rishell said. “He's a dangerous man... He needs to be behind bars.”
Unbeknownst to her after her signature was forged to procure the policy, Henthorn was making payments on the policy until December 2012, listing himself as sole beneficiary.
In 2013, the policy was cancelled when the insurer concluded that Henthorn had no insurable interest in Rishell.
But the very fact of its existence raises questions about how and why the policy was issued in the first place.
During trial, it came to light that accused murder, Harold Henthorn, fraudulently took out a life insurance policy on Grace Rishell, the sister in law of his first wife.
In a case that raises serious questions about the due diligence of advisors and insurers, the FBI discovered that Henthorn had forged her signature to make himself the sole beneficiary on a $400,000 life insurance policy, after she cancelled the original application.
Henthorn is on trial for the murder of his second wife, Toni Bertolet, and investigators have reopened their investigation into the suspicious death of his first wife, Lynn Rishell, some 20 years earlier. Grace Rishell is Lynn’s sister in law.
In both cases, Henthorn was named as the sole beneficiary for a string of lucrative life insurance policies totalling $500,000 for his first wife and $4.5million for Bertolet.
It appears that Grace Rishell was his next victim, though.
She was “concerned for her financial stability’ when she was going through a divorce so she initially agreed to Henthorn taking out a policy that would pay $50,000 to Rishell’s brother and each of her four daughters for a total of $250,000.
But after having a change of heart Rishell told the advisor to stop the policy from going through, in the spring on 2010.
“That was his doing. I did not authorize that policy,” she said. “He profits, not my girls. I feel he came in and just preyed on my vulnerability.”
Instead she took out a policy of her own with another insurer.
“I think it's logical to conclude that he was planning on taking my life at some point,” Rishell said. “He's a dangerous man... He needs to be behind bars.”
Unbeknownst to her after her signature was forged to procure the policy, Henthorn was making payments on the policy until December 2012, listing himself as sole beneficiary.
In 2013, the policy was cancelled when the insurer concluded that Henthorn had no insurable interest in Rishell.
But the very fact of its existence raises questions about how and why the policy was issued in the first place.
