Maryland Woman Convicted in $20M Insurance Fraud Scheme

A federal jury convicted a Maryland woman yesterday for conspiracy to commit insurance fraud, and related charges for wire fraud, money laundering and filing false tax returns.

According to court documents and evidence presented at trial, Maureen Wilson, of Owings Mills, conspired with her husband James Wilson to defraud insurance companies by obtaining over 40 life insurance policies for applicants by mispresenting their health, wealth and existing life insurance coverage. The total death benefits from these policies exceeded $20 million. Wilson also conspired to defraud individual investors to obtain funds that she used to pay premiums on fraudulently obtained life insurance policies.

To conceal the fraud, Wilson and her husband transferred the money they made from the fraud through multiple bank accounts, including accounts in the name of trusts. Wilson filed false individual income tax returns for 2018 and 2019, which did not report as income the approximately $5.7 million and $2 million, respectively she made from her fraud.

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