James William Wilson Jr., Life Insurance Scheme, Maryland 2023

Baltimore, Maryland – In a shocking display of greed and deceit, James William Wilson Jr., 74, and his wife Maureen Ann Wilson, 73, both of Owings Mills, Maryland, have been charged with a $20 million life insurance scheme that has left investigators stunned.

The indictment, unsealed on [current date], charges the couple with conspiracy, mail fraud, wire fraud, money laundering, and filing a false tax return. James Wilson has also been charged with aggravated identity theft.

According to the 21-count indictment, from at least 1996 until the present, the Wilsons conspired to fraudulently obtain more than 30 life insurance policies, worth more than $20 million in life insurance benefits, on behalf of applicants. Specifically, the indictment alleges that the life insurance applications contained material misrepresentations about the applicant, including the amount of the applicant’s existing life insurance coverage, the applicant’s health, and the applicant’s income.

The indictment further alleges that the Wilsons fraudulently obtained money from victim investors to pay the premiums on life insurance policies. Allegedly, the Wilsons obtained these funds by misleading victim investors to believe their money was being used as either a loan or an investment that would be repaid with interest, when, in fact, the money was being used to pay premiums on fraudulently-obtained life insurance policies.

When certain insureds died, the Wilsons received more than $8 million in life insurance proceeds, which they allegedly attempted to launder and conceal by controlling multiple bank accounts, opening bank accounts with nominee owners, and causing fraud proceeds to move through bank accounts owned by others.

James and Maureen Wilson face a maximum sentence of 20 years in federal prison for each count of conspiracy, wire fraud, mail fraud, and money laundering with intent to conceal; and three years in federal prison for each count of filing a false tax return. James Wilson faces a mandatory sentence of two years, consecutive to any other sentence imposed, for each of two counts of aggravated identity theft. Maureen Wilson faces 10 years in federal prison for transactional money laundering.

An indictment is not a finding of guilt. James and Maureen Wilson are presumed innocent unless and until proven guilty at some later criminal proceedings.

The case was investigated by the IRS-Criminal Investigation, the Maryland Insurance Administration, and the Maryland Office of the Attorney General. Assistant U.S. Attorneys Matthew Phelps and Stephanie Williamson, and Trial Attorney Shawn Noud of the Justice Department’s Tax Division, are prosecuting the federal case.

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