Former Maryland Insurance Agent Sentenced to Jail for Defrauding Client and Obstructing Justice

BALTIMORE, MD – A former insurance agent and financial advisor from Baltimore County has been sentenced to six months in jail for defrauding a client and attempting to obstruct justice, according to an announcement from the Maryland Attorney General’s office. Michael C. Okolo, 68, of Parkville, Maryland, was found guilty by a jury in December 2025 on charges of insurance fraud and obstruction of justice. The sentences for these convictions will be served concurrently.

The jury determined that Okolo misappropriated $36,500 from a client that was intended for life insurance and annuity policy premiums. Evidence presented during the trial indicated that Okolo accepted two incomplete checks from the client, then illegally made them payable to his own business. These funds were subsequently deposited into his business account and utilized for personal and business expenditures. In addition to the fraud charges, Okolo was also convicted of obstructing justice. In May 2025, following his indictment for insurance fraud related to the aforementioned actions, Okolo submitted a letter purportedly written and signed by the client, with the intention of having it admitted as evidence during his trial. However, investigators found this letter to be fabricated.

Upon his release from the Baltimore County Detention Center after serving his six-month sentence, Okolo will be subject to three years of supervised probation. Should he violate the terms of his probation, he could face an additional sentence of up to 9.5 years of incarceration. Okolo has reportedly made restitution to the victim. This case is separate from two other legal actions pending against Okolo, which are scheduled for trial later this year. In one of these cases, Okolo is accused of theft exceeding $100,000, allegedly involving the misuse of funds from another client intended for a real estate investment, which were instead used for unrelated personal and business expenses. The other pending case involves numerous charges of operating as an insurance agent without a license, following the revocation of his license by the Maryland Insurance Administration. It is important to note that these are accusations, and Okolo is presumed innocent until proven guilty in a court of law.

The Attorney General’s office highlighted the efforts of its Criminal Division, including Division Chief Katie Dorian, Fraud and Corruption Unit Chief Alex Huggins, and Assistant Attorneys General Michelle Martin and William Elman, who were instrumental in prosecuting these cases. The Maryland Insurance Administration and the State’s Attorney for Baltimore County, Scott Shellenberger, were also recognized for their assistance in the investigation and prosecution.

Article by Mel Anara, based upon information from the Maryland Attorney General.

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