Title Co Steals Closing Funds

In a recent flury of title company problems, a Monmouth County NJ grand jury returned a seven-count indictment against two title company owners.  The two sisters are accused of stealing approximately $780,000, to pay for personal expenses, including high-end vehicles such as Ferraris, lavish homes and travel.

The indictment charged the two sisters with second-degree conspiracy, second-degree misapplication of entrusted property, second-degree theft by failure to make required disposition of property received and second-degree misconduct by a corporate official.

The indictment also charged one count each of third- and fourth-degree bad checks, and one count of third-degree theft by deception. Following the return of the indictment,  the sisters were arrested by from Monmouth County detectives. See full article at National Mortgage News