BALTIMORE— A Maryland woman has been convicted for her role in a $20 million insurance fraud scheme that involved falsifying life insurance applications, money laundering, and filing false tax returns.
A federal jury found Maureen Wilson, of Owings Mills, guilty of conspiracy to commit mail and wire fraud, multiple counts of mail and wire fraud, conspiracy to commit money laundering, and filing false tax returns. Prosecutors said Wilson, along with her husband, James Wilson, fraudulently obtained more than 40 life insurance policies by misrepresenting applicants’ health, financial status, and existing coverage.
Wilson also misled investors to secure funds used for premium payments on these fraudulent policies. Authorities said she and her husband funneled the illicit proceeds through multiple bank accounts, including those held in trusts, to conceal their activities. In addition, Wilson failed to report millions in fraudulent earnings on her tax returns for 2018 and 2019.
Wilson faces a potential sentence of up to 20 years in prison for each count of fraud and money laundering, and up to three years for each false tax return charge. She is scheduled for sentencing on June 20.
The case was investigated by IRS Criminal Investigation with assistance from the Maryland U.S. Attorney’s Office and the Justice Department’s Tax Division.
Wilson’s conviction marks a major victory for federal prosecutors targeting large-scale financial fraud schemes.
