A former insurance agent and financial adviser has received a six-month jail sentence after a jury convicted him of insurance fraud and obstruction of justice, as announced by Maryland Attorney General Anthony G. Brown.
Michael C. Okolo, 68, from Parkville, was sentenced by Baltimore County Circuit Court Judge Michael S. Barranco following the jury’s verdicts delivered on December 4, 2025. Okolo faced convictions on two counts of insurance fraud and one count of obstruction of justice.
According to prosecutors, Okolo misappropriated $36,500 from a client who had given him two incomplete checks meant for paying premiums on life insurance and annuity policies. Instead of using the checks as intended, Okolo made them payable to his own business, deposited them into his business account, and used the funds for personal and business expenses, as determined by the jury’s findings.
Okolo was found guilty of obstructing justice after he tried to submit a forged letter during the trial. In May 2025, following charges of insurance fraud, Okolo presented a letter he claimed was authored and signed by the client, which he said cleared him of wrongdoing. However, investigators concluded that the letter was fabricated and had been created by Okolo himself.
Judge Barranco sentenced him to concurrent six-month terms to be served at the Baltimore County Detention Center. Upon his release, Okolo will be under three years of supervised probation. Should he breach the conditions of his probation, he could face an additional 9.5 years in prison. Officials have stated that Okolo has made restitution payments.
In addition to these issues, Okolo is encountering further legal challenges. He has been charged in two other cases that are set for trial later this year. One case involves allegations of theft exceeding $100,000, as he is accused of misusing another client’s funds that were meant for a real estate investment. In the second case, Okolo faces several charges for acting as an unlicensed insurance agent, following claims that he continued to solicit and sell insurance products even after his license was revoked by the Maryland Insurance Administration.
These charges are still pending, and Okolo is considered innocent until proven guilty beyond a reasonable doubt.
