Baltimore Closing Agent Cops Plea For Role In Deed Theft Scam; Phony Documents Used To Transfer Title To Home Belonging To Out-Of-State Senior
- The Baltimore City State’s Attorney’s Office indicted Gregory Todd Alter, age 37, of Hagerstown, co-owner of All Star Settlement Company on charges of conspiracy to commit theft and issuing a counterfeit deed. On May 14, 2008, Alter conducted a settlement in which a home [...] was sold for $40,000. On June 14, 2008 another settlement took place at All Star where the same property was sold to an innocent third party for $90,000.
- The true owner of the property was [...] an 85 year old woman who lives in Massachusetts and had not been to Maryland in 35 years. She never signed any deed nor was she ever aware her property was being sold. Alter received $7,000 from the first transaction and then forwarded a fraudulent deed to the buyer’s lender for the 2nd transaction. He received an additional $2,000 from the 2nd transaction. The scheme was discovered in September 2008, when [the Massachusetts woman] decided to sell the property and hired a realtor who placed a for sale sign on the property. The buyers who had purchased the property in June 2008 then realized that they had been defrauded. Alter pled guilty to both charges and was sentenced to five years suspended, three years probation.
Source: Maryland Mortgage Fraud Task Force Announces Progress And Plans (State v. Gregory Todd Alter).
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