Welcome to The Home Equity Theft Reporter, a blog dedicated to informing the consumer public and the legal profession about Home Equity Theft issues. This blog will consist of information describing the various forms of Home Equity Theft and links to news reports & other informational sources from throughout the country about the victims of Home Equity Theft and what government authorities and others are doing about it.
Thursday, August 17, 2017
Texas Title Agent Cops Plea To Siphoning Over $1.6 Million From Escrow Account For Closings In Real Estate Deals; Authorities Bagged Her In Illinois After She Abandoned Business & Skipped Town With Loot
In Southlake, Texas, KXAS-TV Channel 5 reports:
A former wealthy Southlake title agent pleaded guilty Monday [August 14] to stealing more than $1.6 million before she abandoned her business and skipped town last year.
Nancy Jackson Spinks, also known as Nancy Carroll, was arrested in February 2016 driving a Mercedes Benz near Chicago, where she was renting a 6,000-square-foot estate.
Carroll’s business, Millennium Title Company, was seized by the Texas Department of Insurance.
Regulators said $3 million was missing from the company’s escrow accounts and $2 million from separate investor accounts.
A sentencing date has not been set but her crime carries a range of punishment from five to 99 years in prison. Carroll also is eligible for parole, prosecutors said.
Carroll pleaded guilty to misappropriation of fiduciary property and theft of $1.6 million.
Carroll's attorney, Lance Evans, declined to say if she will seek probation.
"Ms. Carroll admits her responsibility for the conduct alleged in the indictment and is prepared to receive her punishment at the appropriate time," he said.
CBC News: Betrayal of Trust (A CBC investigation reveals how lawyers across Canada have misappropriated and mishandled clients money, to the tune of tens of millions of dollars, or sometimes even charging vulnerable people top dollar for shoddy services)
Land Contract/Contract For Deed/Rent-To-Own Rackets
The New York Times: The Housing Trap (In the wake of the housing crisis, low-income families have turned to seller financing to buy homes but these deals can be a money trap)
Beware The Fine Print: Consumers Forced To Sign Away Their Rights To Use Court System
The NY Times: Arbitration Everywhere, Stacking the Deck of Justice(Part 1 in series examining how clauses buried in tens of millions of contracts have deprived Americans of one of their most fundamental constitutional rights: their day in court)
Foreclosure Mills' Abysmal Record In Complying With New NYS Foreclosure Requirements
Justice Deceived: How Large Foreclosure Firms Subvert State Regulations Protecting Homeowners
MFY Legal Services Report On Questionable Practices By Process Servers In Debt Collection Cases
Justice Disserved: A Preliminary Analysis of the Exceptionally
Low Appearance Rate by Defendants in Lawsuits Filed in the Civil Court of the City of New York
Mortgage Mess Redux: Robo-Signers Return (A Reuters investigation finds that many banks are still employing the controversial foreclosure practices that sparked a major outcry last year)
CNN Video: As Foreclosures Mount, Florida Court Turns To 'Rocket Docket'
The Wall Street Journal: A Florida Court's 'Rocket Docket' Blasts Through Foreclosure Cases (2 Questions, 15 Seconds, 45 Days to Get Out; 'What's to Talk About?' Says a Judge)
"Produce The Note" Strategy When Dealing With Missing Promissory Notes In Foreclosure Actions
ABC Video: Fighting Against Foreclosure (Some homeowners have found a new tactic to keep the banks at bay)
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