“Getting a policy months before the incident, combined with other factors, is a red flag,” says Michelle Rafeld of the Coalition Against Insurance Fraud.
Ryan Borgwardt in contact with the Green Lake County Sheriff's Department
In a press conference on November 21, 2024, the Green Lake County Sheriff's Office announced that it had contacted Ryan Borgwardt.
Provided by the Green Lake County Sheriff
OSHKOSH – Stories like Ryan Borgwardt's are even more unique than you can imagine.
At least from an insurance perspective.
Coalition Against Insurance Fraud Executive Director Michelle Rafeld told USA TODAY NETWORK-Wisconsin that while she doesn't know the missing kayaker's motive for staging his disappearance, it is very unusual for someone to do so for an insurance claim.
“While the idea of faking one's death for insurance money is something you hear in movies or news reports, in reality it is extremely rare and often comes to light after an investigation is initiated due to suspicious circumstances,” Rafeld explained.
“Taking out a policy months before the incident, combined with other factors, is a red flag.”
Rafeld made the comments in light of the national story surrounding the 45-year-old Watertown man's failed attempt to fake his death Aug. 11 on Green Lake.
A few months later, law enforcement finally uncovered the conspiracy. A forensic analysis of his laptop revealed the replacement of the hard drive, investigations into the transfer of funds to foreign banks – and the fact that Borgwardt had taken out a new life insurance policy for $375,000.
Authorities announced that Borgwardt's immediate family were the beneficiaries, but they never attempted to pay off the claim. Borgwardt was not charged in court with anything related to the insurance policy.
“Back in 2022, the Coalition conducted a study with Colorado State University Global to determine the costs of insurance fraud. “We found that $308.6 billion is lost every year to insurance fraud,” said Rafeld.
“Of that $308.6 billion, approximately $75 billion is lost through bogus life insurance claims. “Only a small percentage of that number would be due to people staging their own deaths, as again, this is not a common occurrence.”
Borgwardt recently returned to the United States from the European country of Georgia at his own request. He faces a possible nine months in prison and a $10,000 fine after being charged with a Class A misdemeanor: obstructing an officer who intentionally planted evidence to mislead law enforcement.
Green Lake County Detective Jeremiah Hanson's file shows that Borgwardt admitted the following:
- Storing an e-bike near the boat dock.
- Paddle out onto the lake in a kayak and a child-sized inflatable boat.
- Overturning the kayak and throwing his cell phone into the lake.
- Paddle the dinghy to the shore and then ride the e-bike through the night to Madison.
- Board a bus in Madison, head to Detroit, and then continue to the Canadian border.
- Continue by bus to the airport and board a plane.
Borgwardt told Hanson, “Everything depended on me dying in the lake,” so he looked into deaths in the lake and how deep a body must go without resurfacing after researching other people's successful disappearances.
Borgwardt is scheduled to return to court for his second appearance on January 13.
His wife Emily recently filed for legal separation and custody of their three teenage children.
Contact Justin Marville at [email protected] and follow him on X (formerly Twitter) at @justinmarville.
