BALTIMORE — A Maryland woman has been convicted in a $20 million insurance fraud scheme.
Maureen Wilson, 77, conspired with her husband James Wilson, to defraud insurance companies by taking out more than 40 life insurance policies.
They did this by misrepresenting their health, wealth and existing life insurance coverage.
The total death policies exceeded $20 million. After getting the policies, the couple used forged signatures to make themselves the beneficiaries.
They hid the fraud by transferring the money they made from the fraud through multiple bank accounts. Maureen also filed false tax returns for 2018 and 2019, which did not report the income of about $5.7 million and $2 million, respectively from the fraud.
She was convicted of one count of conspiracy to commit mail and wire fraud, four counts of mail fraud, two counts of wire fraud, one count of conspiracy to commit money laundering, one count of money laundering and two counts of filing a false return.
She faces a maximum of 20 years in prison for each count of conspiracy.
