Monday, May 28, 2007

Ohio Feds Get Guilty Verdict Against Title Insurance Agency Owner

In Cincinnati, Ohio, The Enquirer reports that a federal jury has convicted title insurance agent Stephanie Corsmeier, who owned and operated American Security Title Company, on 11 counts of fraud and conspiracy to money launder in connection with a mortgage fraud investigation. Employee Stacey Lester, of Loveland who was also indicted on the same 11 counts, was found not guilty on all 11 counts by the jury. The indictment listed 42 real estate deals involving American Security Title from 2002 to 2004.

The investigation was conducted by a taskforce of federal agencies including the FBI, the IRS and U.S. Postal Service, which began investigating mortgage fraud in the sale of low price homes in the Cincinnati area. Over three dozen individuals have pleaded guilty to charges since the probe began. For more, see Title Company Owner Guilty (Was party to mortgage fraud).

For the 11 count indictment, see Indictment - U.S.A. vs. Corsmeier (drop me a line at HomeEquityTheft@yahoo.com and I'll email you the indictment - be sure to put "Indictment - U.S.A. vs. Corsmeier" in the subject line).

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