A man has been jailed for multiple counts of conspiracy, insurance fraud, money laundering, identity theft, and filing false tax returns.
Wilson, of Owings Mills, engaged in a scheme to defraud insurance companies and investors, leading to millions in fraudulent gains.
How the Scam Worked
Wilson and his co-conspirators:
- Secured over 30 life insurance policies using false information about applicants’ health, wealth, and existing coverage.
- Amassed death benefits exceeding $20 million.
- Defrauded individual investors to obtain funds, which were then used to pay premiums on fraudulent policies.
- Moved the illicit funds through multiple bank accounts, including those tied to trusts, to conceal the fraud.

Tax Fraud and Money Laundering
In addition to the insurance scam, Wilson:
- Filed false tax returns in 2018 and 2019, hiding $5.7 million and $2 million in fraud proceeds, respectively.
- Laundered money through complex financial transactions to evade detection.
Legal Consequences
Wilson is set for sentencing on May 1 and faces:
- Up to 20 years in prison for each count of conspiracy, wire fraud, mail fraud, and money laundering.
- Up to three years for each false tax return charge.
- Up to two years for each aggravated identity theft charge.
A federal judge will determine the final sentence based on U.S. Sentencing Guidelines and other legal factors.
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Investigators and Prosecutors
The case was led by:
- IRS Criminal Investigation (IRS-CI), with assistance from the Maryland Insurance Administration and the Maryland Attorney General.
- Prosecutors from the Justice Department’s Tax Division and the U.S. Attorney’s Office for the District of Maryland handled the case.
What This Means for Insurance Fraud Cases
Wilson’s conviction serves as a stark warning to those attempting to manipulate the insurance system. Authorities remain vigilant in detecting and prosecuting fraudulent financial schemes. The outcome of his sentencing will set a precedent for similar cases in the future.