Sunday, February 20, 2011

Probe Into Title Escrow Money Ripoff Yields Guilty Plea; Suspect To Cough Up $25K In Restitution Within One Month To 'Buy Out' Of Prison Sentence

In Allen County, Indiana, The Journal Gazette reports:
  • A mortgage company manager pleaded guilty Thursday in Allen Superior Court to two Class D felony charges of loan broker fraud. Robin W. Hunt, 40, of [...] New Haven, was arrested and charged last July with six counts of loan broker fraud, two of which were Class C felonies. He and an associate, Lane Miller, were charged in connection with the investigation into title escrow scheme run by Joseph Garretson. Miller worked for Garretson, currently serving an 11-year prison sentence for misappropriating title escrow money.

  • According to the plea agreement, Hunt’s prison sentence of one year will be suspended and he will be placed on probation when he is sentenced late next month. However, he will have to pay $25,000 in restitution to Flagstar Bank before he is sentenced, according to court documents.

Source: Broker pleads guilty.