David Young Park, 43, former President of Capital City Financial Group, Ellicott City, Maryland was charged with theft in Baltimore County Circuit Court. In June of 2007, Park was allegedly working as a mortgage broker and assisted the victim with the refinance of her home. The victim intended to use the more than $100,000 in equity to purchase a commercial condo for her business. Following settlement, Park allegedly obtained the victim’s proceeds from the title company without the victim’s knowledge, deposited them into his escrow account and spent the money on various personal and business expenses over the course of two weeks.
Felony theft is punishable in Maryland by a maximum sentence of 15 years incarceration and a $25,000 fine. Originally referred by the Maryland Department of Labor, Licensing and Regulation – Division of Financial Regulation, the investigation was conducted by the Attorney General’s Criminal Division and the Maryland State Police.
A criminal charge is merely an accusation of wrongdoing and the defendant is presumed innocent unless the State proves his guilt beyond a reasonable doubt.