A federal jury convicted a Maryland lady yesterday for conspiracy to commit insurance coverage fraud, and associated prices for wire fraud, cash laundering and submitting false tax returns.
In response to courtroom paperwork, Maureen Wilson, of Owings Mills, conspired along with her husband James Wilson to defraud insurance coverage corporations by acquiring over 40 life insurance coverage insurance policies for candidates by misrepresenting their well being, wealth and present life insurance coverage protection. The entire loss of life advantages from these insurance policies exceeded $20 million.
Prosecutors mentioned Wilson additionally conspired to defraud particular person traders to acquire funds that she used to pay premiums on the fraudulently obtained life insurance coverage insurance policies.
To hide the fraud, prosecutors present that Wilson and her husband transferred the cash they made out of the fraud by a number of financial institution accounts, together with accounts within the title of trusts. Wilson filed false particular person earnings tax returns for 2018 and 2019, which didn’t report as earnings the roughly $5.7 million and $2 million, respectively she made out of her fraud.
Wilson was convicted of 1 rely of conspiracy to commit mail and wire fraud, 4 counts of mail fraud, two counts of wire fraud, one rely of conspiracy to commit cash laundering, one rely of cash laundering and two counts of submitting a false return. She was acquitted of 1 rely of mail fraud.
She is scheduled to be sentenced on June 20.
The legal investigation unit of the Inside Income Service (IRS) is investigating the case with help from the Maryland Insurance coverage Administration and the Maryland Legal professional Normal. Attorneys Shawn Noud and Richard Kelley of the Justice Division’s Tax Division and Assistant U.S. Attorneys Matthew Phelps and Philip Motsay for the District of Maryland are prosecuting the case.
Supply: U.S. Legal professional for the District of Maryland
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