72-Year-Old Insurance Agent Pleads Guilty To 4-Year Fraud Scheme

BALTIMORE COUNTY, MD — An Owings Mills man pleaded guilty to a years-long insurance scheme that stole tens of thousands of dollars.

A Tuesday release from the Attorney General's Office says insurance agent Gregory A. Maslow, 72, orchestrated a scheme that defrauded insurance companies of commissions from May 2015 to May 2019.

Whenever Maslow's agency contracts were terminated, investigators say he used the identities of other insurance agents and customers to submit more than 75 life insurance applications.

"Many of these applications were for life insurance policies for Maslow’s friends, family members, and even Maslow himself," the release reads.

"He influenced these individuals to apply for life insurance by offering to pay all or part of their premiums, but did not intend to pay the premiums for long."

By the time the applications were approved and funds were dispersed to joint accounts, Maslow would transfer the money to a separate account he managed alone.

Investigators said the four-year scheme saw Maslow handed over $100,000.

Sentencing is scheduled for Nov. 23.

However, the plea agreement Maslow accepted states he will be sentenced to 30 days in prison, with five years of supervised release. He will also be required to pay restitution and agree to the revocation of his insurer's license.

Any violation of his probation will see him sentenced up to four years and 11 months in prison, the release states.