A Crofton, Maryland woman has pleaded guilty in two separate felony theft schemes, according to Attorney General Anthony G. Brown.
On Monday in Anne Arundel County Circuit Court, Carolyn Rae Aldridge admitted to stealing a combined total of $185,296.28 during the two schemes, reported the attorney general’s office.
In the first scheme, between August 2017 and January 2021, Aldridge stole 96 checks from her then-employer, American Builders Corp, Inc. for a total loss of $173,004.43. Aldridge worked as the office manager for ABC Builders and used her position to steal the checks and deposit them into her personal bank account. ABC Builders is an Anne Arundel County-based small business providing home improvement and general contracting services.
In the second theft scheme, between January 2020 to February 2021, Aldridge stole 13 checks from her then-employer, the Maryland Automobile Insurance Fund (MAIF), for a total loss of $12,291.85. Aldridge stole the checks while working as an associate in the fiscal department for MAIF. All the checks were deposited into her personal bank account. MAIF is an independent Maryland automobile insurance provider.
A grand jury for Anne Arundel County handed down two indictments charging Aldridge with both felony theft schemes on June 27, 2025. Aldridge is scheduled to be sentenced on August 11, 2026.
The Federal Housing Finance Agency this week announced the quasi-governmental corporations that buy mortgages from lenders will not require properties with a federally backed mortgage to have full replacement cost value homeowners insurance, reversing a change made in February 2024.
“Limiting consumers to only the most expensive coverage just made buying a home that much more difficult, and created real harm for the homeowners market,” said Neil Alldredge, president and CEO of the National Association of Mutual Insurance Companies. “The vast majority of mortgages are backed by the (government-sponsored enterprises), and so keeping costs needlessly high probably prevented some consumers from becoming homebuyers.”
Full replacement cost insurance typically comes with a higher cost, which “worked as a de facto regulation” to prevent other more affordable options that consider depreciation, NAMIC explained.
“Giving consumers more options to fit their needs and budgets will bring with it greater competition in the marketplace and help bring costs down,” Alldredge said.
