BALTIMORE, M.D. — A former Pikesville insurance agent and financial advisor faces new criminal charges after allegedly fabricating a document to support his defense in a pending insurance fraud case, Maryland Attorney General Anthony G. Brown announced.
Michael C. Okolo, 68, of Parkville, was charged in Baltimore County Circuit Court with obstruction of justice and fabricating physical evidence. Prosecutors say Okolo created a false “letter of instruction” in an attempt to justify his handling of $36,500 in client funds in 2016.
According to the Attorney General’s Office, the letter—dated February 20, 2016—appeared to authorize Okolo to deposit two checks into his business account while seeking an insurance policy and annuity on the client’s behalf. However, investigators allege the client neither wrote nor signed the letter. Instead, Okolo is accused of cutting and pasting the client’s signature from a separate, authentic letter written in April 2017.
The letter was disclosed to prosecutors on May 1 by Okolo’s attorney in preparation for trial, but investigators say it directly contradicts a statement Okolo made to the Maryland Insurance Administration in May 2017, in which he denied any written authorization existed for the deposits.
The new charges mark the fourth criminal case filed against Okolo since September 2024.
In the original indictment, Okolo is accused of felony theft and insurance fraud for allegedly diverting client funds intended for insurance products to his own use. In two additional pending cases, he is charged with unlicensed insurance activity and theft over $100,000 in a separate alleged real estate investment fraud.
All four cases are being prosecuted by the Attorney General’s Fraud and Corruption Unit. Trial dates for the earlier charges are scheduled for September 22, October 20, and December 1 in Baltimore County Circuit Court. A court date has not yet been set for the latest charges.
