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, 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 misrepresenting their health, wealth and existing life insurance coverage. The total death benefits from these policies exceeded $20 million.
Prosecutors said Wilson also conspired to defraud individual investors to obtain funds that she used to pay premiums on the fraudulently obtained life insurance policies.
To conceal the fraud, prosecutors show that 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.
Wilson was convicted of one count of conspiracy to commit mail and wire fraud, four counts of mail fraud, two counts of wire fraud, one count of conspiracy to commit money laundering, one count of money laundering and two counts of filing a false return. She was acquitted of one count of mail fraud.
She is scheduled to be sentenced on June 20.
The criminal investigation unit of the Internal Revenue Service (IRS) is investigating the case with assistance from the Maryland Insurance Administration and the Maryland Attorney General. Attorneys Shawn Noud and Richard Kelley of the Justice Department’s Tax Division and Assistant U.S. Attorneys Matthew Phelps and Philip Motsay for the District of Maryland are prosecuting the case.
Source: U.S. Attorney for the District of Maryland
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