Dad ‘took out $375,000 life insurance policy and faked his own death’ before 'fleeing to Europe'

Local authorities in Wisconsin believe a dad took out a '$375,000 life insurance policy and faked his own death’ before later fleeing to Europe.

Ryan Borgwardt was last seen in Green Lake while on a solo fishing trip on 12 August, leaving his wife and three kids extremely worried.

Despite that, officials believe he is very much alive, with them pointing to Borgwardt having likely fled to Europe.

Matthew Vande Kolk, Chief Deputy Sheriff for Green Lake County, told the BBC: "We believe that he is alive. We know that he's not in our lake."

Borgwardt was last in contact with his wife on the night of 11 August, when he sent her a text message.

The message stated he was turning his kayak around and heading for the shore - and considering that was the last thing Borgwardt's wife heard from him, you can see why she became concerned.

Ryan Borgwardt has been missing since August (Green Lake County Sheriff's Office)

A later search and rescue mission found the kayak capsized in the lake, as well as a life jacket.

54 days of searching took place, which included efforts from people on the ground, sky and on the water.

Borgwardt’s car, trailer and wallet were found nearby.

Police had to widen their search in their hope of finding Borgwardt - and they finally discovered a lead on the Canadian border.

They discovered he had reported his passport missing or stolen and was subsequently issued with a new one.

This lead led to police conducting a forensic analysis of Borgwardt’s laptop, and they found he had taken out a whopping $375,000 life insurance policy.

He had ultimately transferred the funds to an overseas bank account and photographed the new travel document before disappearing.

The original search area for the Wisconsin man (Green Lake County Sheriff's Office)

Borgwardt’s family is cooperating with local officials as they attempt to track the dad down and consider what charges could go against him.

Vande Kolk continued to the BBC: "She has done everything that we have asked of her in regards to helping us with information, and holding on to information.

"Unfortunately, we had to keep this quiet for about a month from the time that we started thinking that he was somewhere else, until we had enough information that we could share with the world, and she did that."

"Our hope is then, at some point we'll be able to hold Ryan accountable for his actions and request restitution."

Police are continuing to look for Borgwardt, who they believe is alive and residing in Eastern Europe.