After a seven-day trial, a federal jury found a 77 year old Owings Mills man guilty of 13 counts of fraud, three counts of money laundering, two counts of filing false tax returns, and one count of aggravated identity theft… According to court documents and evidence presented at trial, the man defrauded life-insurance companies by securing more than 40 life-insurance policies. The scheme included misrepsenting policy applicants’ health, wealth, and existing life-insurance coverage… Also, he defrauded individual investors to receive funds that he used to pay premiums on the fraudulently obtained life-insurance policies. He concealed the fraud by transferring the proceeds to multiple bank accounts, including accounts in the name of trusts. He then filed false individual income-tax returns for 2018 and 2019, which concealed the fraudulent proceeds from each year, approximately $5.7 million and $2 million, respectively. Source: US Attorney District of Maryland