New York Closing Agent Charged With Pocketing $500K Earmarked For Existing Mortgage Payoffs

In Suffolk County, Long Island, Newsday reports:

• An Islip Terrace woman who worked as a title insurance agent has been indicted after she swindled at least two homeowners out of $500,000, Suffolk prosecutors said.Christina Cidoni, 43, was arrested on May 28 and charged with second-degree grand larceny, according to Suffolk County District Attorney Thomas Spota.

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• According to prosecutors, Cidoni swiped and cashed several multi-thousand dollar checks in 2003 while working on two deals for Fidelity National Title Insurance Co. of New York. Typically, such insurance provides lenders and homeowners peace of mind while a title transfer is pending. Instead of safeguarding those checks -- which were earmarked to pay off mortgages -- Cidoni cashed and spent them, prosecutors said. Cidoni also is accused of allegedly pilfering $15,000 in an escrow account, and of writing a bad check for title insurance computer software.

For the story, see Title insurance agent charged with larcenies.

Thanks to Bill Collins of Crossroads Abstract, Rochester, NY for the heads-up on this story.

Go here, Go here, and Go here for other stories of trust account / escrow account theft of funds. sneaky slick escrow agents gamma