Peosta Man Sentenced to 10 Years in Prison for Insurance Fraud Scheme

A Peosta, IA man has been sentenced to ten years in prison following a large insurance fraud scheme involving stolen Rolex watches.

The conviction was confirmed by the Iowa Insurance Division, who revealed 33-year-old Bryce Douglas Murphy was sentenced on March 31st, 2025. He plead guilt to Insurance Fraud and Fraudulent Practice, both Class D Felonies in the state of Iowa. A Class D Felony in Iowa carries a maximum of five years in prison, so pair both together and you get the ten years Murphy is expected to serve.

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Per the Iowa Insurance Division, the investigation into Murphy began back in November 2022 after the division's Fraud Bureau received tips that Murphy provided false information to an insurance company regarding a loss claim for two Rolex watches.

Murphy submitted a loss claim stating that the two watches were stolen from his hotel room while attending an NFL game. He provided various documents, including a purchase receipt for the watches. Investigation revealed Murphy filed a similar claim with another insurance company in 2019, for which he received a payout of $9,998.

The purchase receipt for the watches was found to have been greatly fabricated, and that the Rolexes were in fact counterfeit. Police arrested Murphy on June 12th, 2023, and entered a guilty plea shortly after. In addition to the prison sentence, he was ordered to pay $2,935 in fines.

Toying with insurance companies usually means you're going to come out on the losing end. Murphy had to learn such a thing the hard way.

In their write-up on Murphy, the Iowa Insurance Division added that any Iowans with information about insurance fraud are encouraged to contact the division's Fraud Bureau at 515-654-6556. For more information on the story, visit the Iowa Insurance Division's website.