Jury Finds Agent Guilty of Twice Misappropriating Client’s Insurance Funds

A Baltimore County jury has found Michael C. Okolo, of Parkville, Maryland, guilty of two counts of insurance fraud and one count of obstruction of justice.

According to Maryland Attorney General Anthony G. Brown 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 misappropriations, 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 signature from another document.

Okolo is scheduled for sentencing in this matter on January 7, 2026.

Officials said that 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 Okolo is presumed innocent until the state proves guilt beyond a reasonable doubt.

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