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Jury Convicted the Same Defendant of Insurance Fraud and Obstruction of Justice in Separate 2025 Case
BALTIMORE MD – Attorney General Anthony G. Brown announced today that a Baltimore County jury found Michael C. Okolo, 68, of Parkville, Maryland, guilty of 10 felony counts of insurance fraud by acting as an insurance agent without a license.
The jury found that Okolo acted as an insurance agent without a license by selling annuity policies on 10 occasions from 2021 to 2024, pocketing more than $88,000 in commissions, all of which were sold after the Maryland Insurance Administration (MIA) revoked Okolo’s license in 2019 for misappropriating premium payments. After Okolo’s license had been revoked, he set up another business, Wise Money Group, and recruited another licensed agent to sign annuity applications for policies that Okolo sold.
“Michael Okolo lost his license for stealing from a client, and instead of accepting the consequences of his crime, he continued to exploit those who trusted him with their financial futures,” said Attorney General Brown. “This second guilty verdict makes clear that our Office will pursue financial predators through every case, every charge, and every count until they are held fully accountable for defrauding Marylanders of their hard-earned money.”
“Marylanders deserve to know that those who exploit consumers and violate our insurance laws will be held accountable,” said Maryland Insurance Commissioner Marie Grant. “This conviction sends a clear message that this kind of fraudulent conduct will not be tolerated. The Maryland Insurance Administration was proud to work with Attorney General Brown and his team on this case.”
In December 2025, Okolo was tried and convicted in a separate case. The jury in that case found that Okolo misappropriated $36,500 he received from a client, depositing it into his business account, and using the money for personal and business expenses. The jury also found that while the matter was pending, Okolo obstructed justice by creating a fake letter purporting to be from that client and copying and pasting the client’s signature from a genuine document. In January 2026, he was sentenced to six months of active incarceration for two counts of insurance fraud and obstruction of justice.
Okolo will be sentenced by the Honorable Michael Barranco on July 29, 2026, in the Circuit Court for Baltimore County.
In making today’s announcement, Attorney General Brown thanked his Criminal Division, specifically Division Chief Katie Dorian, Fraud and Corruption Unit Chief Alex Huggins, and Assistant Attorneys General Michelle Martin and William Elman, who prosecuted these cases. Attorney General Brown also thanked the Maryland Insurance Administration for their assistance with this investigation. Finally, Attorney General Brown thanked State’s Attorney for Baltimore County Scott Shellenberger for his assistance with this investigation and prosecution.
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