Thursday, November 10, 2005
Former Title Company VP Pleads Guilty
Thomas Kurzenberger Jr., 37, Ballwin, Missouri, the former vice-president of Title Insurers Agency, Inc., 226 South Meramec Avenue, Suite 200, Clayton, Missouri, was charged by information and pled guilty to one count of mail fraud in connection with allegations that he diverted almost $2.8 million from title company escrow accounts.
According to court records, between January 2000 and June 28, 2005, Kurzenberger withdrew approximately $2,768,882.04 from the main escrow or construction escrow accounts maintained by Title Insurance Agency. He spent approximately $1,251,045.41 to pay for personal expenses and the used the remaining approximately $1,517,836.53 to cover general operating expenses of Title Insurance Agency. He continued to make escrow agreements and accept escrow deposits despite and without disclosing the fact that there was an escrow deficit in excess of $3 million. Columbian National Title Insurance Company (now First American Title) and Chicago Title Insurance Company were the underwriters for Title Insurance Agency. Title Insurers Agency collapsed on or about June 28, 2005. Chicago Title covered in excess of $400,000 of and First American covered in excess of $4.5 million of insufficient funds checks and debts on behalf of Title Insurers Agency.
Kurzenberger is scheduled to be sentenced January 24, 2006 and faces a maximum penalty of 20 years in prison and/or a $250,000 fine.
mortgage fraud
I have a bad feeling that these problems are going to escalate in the future. With the market going the way it is and many title companies facing financial uncertainty I have a feeling that there will be a lot of title company owners who will move escrow funds to cover their operating expenses. I hope I am wrong.
Posted by on 12/10 at 10:03 AM
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Trial coverage provided by Anne Mitchell, Crazy Fish Realty.
U.S. v. Miller, et al.
Thursday, December, 18, 2008
Verdict:
F. Jeffrey Miller Guilty of Conspiracy and Money Laundering
Steven Vanatta Guilty of Conspiracy , Money Laundering and Bank Fraud
Hallie Irvin Guilty of Conspiracy , Money Laundering and Bank Fraud
Sandra Jo Harris Not guilty- all counts
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Rachel Dollar is an attorney and Certified Mortgage Banker who handles fraud recovery litigation for lenders and secondary market investors nationwide. She is a nationally recognized speaker on the topic of mortgage fraud. Ms. Dollar is licensed to practice law in California and maintains offices in Santa Rosa, California. 
