The Office of the Maryland Attorney General announced that Parkville resident Michael C. Okolo, 68, was found guilty by a jury of two counts of insurance fraud and one count of obstruction of justice Here is the full release.
Attorney General Anthony G. Brown announced that a Baltimore County jury has found Michael C. Okolo, 68, of Parkville guilty of two counts of insurance fraud and one count of obstruction of justice.
Okolo was found to have twice misappropriated a client’s funds that were intended for life insurance and annuity policy premiums. After the client gave Okolo two incomplete checks totaling $36,500, Okolo illegally made them payable to his own business, deposited them into his own business account, and used the money for personal and business expenses.
The jury also found Okolo guilty of obstructing justice. In May 2025, after being charged with insurance fraud for the acts above, Okolo disclosed a letter purportedly written and signed by the client, intending that it be admitted in evidence at his upcoming trial. The letter, however, was fabricated by Okolo – he wrote it and copied and pasted the client’s genuine signature from another document.
“Marylanders deserve financial advisors they can trust with their life savings,”said Attorney General Brown.
“This conviction sends a clear message that we will hold accountable those who betray that trust and steal from their clients.”
“The conviction in this case sends a strong message that insurance fraud will not be tolerated in Maryland,” said Maryland Insurance Commissioner Marie Grant.
“The Maryland Insurance Administration is committed to working with the Office of the Attorney General in protecting the public and holding individuals accountable when they choose to defraud our residents.”
Okolo is scheduled for sentencing in this matter on January 7, 2026, in Baltimore County Circuit Court before the Honorable Michael S. Barranco.
Okolo has also been charged in two other cases scheduled for trial in 2026. In one, Okolo is charged with theft of $100,000 or more after allegedly spending client funds intended for a “real estate investment” on unrelated personal and business expenses.
In the other, Okolo is charged with numerous counts of acting as an insurance agent without a license after allegedly soliciting and selling insurance products after the Maryland Insurance Administration revoked his license.
Charges are merely accusations of wrongdoing, and a defendant is presumed innocent until the state proves the defendant guilty beyond a reasonable doubt.
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 the case. 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.
