Owings Mills couple charged with $ 20 million insurance fraud scheme – CBS Baltimore


OWINGS MILLS, Maryland (WJZ) – Authorities have announced that a Baltimore County couple have been charged with Conspiracy to Commit Insurance Fraud and related charges of money laundering, false tax filing and identity theft.

According to authorities from 1996 to the present, James and Maureen Wilson of Owings Mills conspired to defraud insurance companies by obtaining over 30 life insurance policies for claimants by distorting their health, wealth and coverage. existing life insurance. Officials said the total death benefit from these policies was $ 20 million.

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In addition, the Wilson’s also conspired to defraud individual investors in order to obtain funds that the Wilson’s used to pay premiums on fraudulently obtained life insurance policies. Authorities said the Wilsons transferred the proceeds of the fraud through multiple bank accounts to cover up the crimes – including accounts in the name of trusts.

Authorities said the Wilson’s would not have reported about $ 5.7 million and $ 2 million they received in life insurance proceeds on their 2018 and 2019 individual tax returns.

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If convicted, the Wilson’s face a maximum of 20 years in prison for wire fraud, mail fraud and money laundering and three years in prison for each count of filing a false tax return.

James Wilson faces two years in prison for each charge of aggravated identity theft and Maureen Wilson faces 10 years in prison for transactional money laundering.

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