Two New York Attorneys Charged With Stealing Escrow Funds

The North Country Gazette reports:

• "Two Nassau County attorneys have been arrested in connection with separate thefts of more than $900,000. Barry Chasky, 54, of Point Lookout, has been charged with second degree grand larceny after allegedly embezzling nearly $900,000 from the escrow accounts of First American Title Insurance Company. In a separate case, Joseph Corrado, 48, of Pleasantville, has also been charged with third degree grand larceny in connection with an alleged theft from the escrow account of a Garden City client who hired the defendant to negotiate a loan refinancing."

Chasky is the owner of Triad Abstract Company, which is an agent of First American Title Insurance Company.

Corrado was hired to negotiate a loan modification for a local homeowner who was in default on his home mortgage. Allegedly, the homeowner gave Corrado a total of $35,000.00 to hold in escrow during the negotiations, who reportedly pocketed the money, doing little more than filing a notice of appeal during the process. To date, Corrado has returned only $4,000, creating a financial loss of $31,000 to the homeowner, according to the story. A foreclosure action resulted in the home being sold at auction.

For more, see Legal Duo Charged With Theft Of Escrow Funds.

See also, Nassau County District Attorney press release - DA Files Charges against Two Lawyers (In separate cases, attorneys accused of stealing more than $900k).

Go here for stories on other alleged escrow agent mishandling of funds. sneaky slick escrow agents alpha