BALTIMORE COUNTY, Md. — A Baltimore County jury has found a former insurance agent and financial advisor from Parkville guilty of two counts of insurance fraud and one count of obstruction of justice, announced Attorney General Anthony Brown’s office.
Michael C. Okolo, 68, was convicted of misappropriating $36,500 from a client, intended for life insurance and annuity policy premiums. He altered two incomplete checks from the client to make them payable to his own business, subsequently depositing the funds into his business account for personal and business use.
In addition to the fraud charges, Okolo was found guilty of obstructing justice. In May 2025, after being charged with insurance fraud, he presented a fabricated letter, purportedly written and signed by the client, to be used as evidence in his trial. Okolo had written the letter himself and copied 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.”
Maryland Insurance Commissioner Marie Grant echoed this sentiment, stating, “The conviction in this case sends a strong message that insurance fraud will not be tolerated in Maryland.”
Okolo is scheduled for sentencing on Jan. 7, 2026, in Baltimore County Circuit Court before Judge Michael S. Barranco.
He also faces charges in two other cases set for trial in 2026. One involves the alleged theft of $100,000 or more, where Okolo is accused of using client funds intended for a real estate investment for personal and business expenses.
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The other case involves numerous counts of acting as an insurance agent without a license after his license was revoked by the Maryland Insurance Administration.
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