Theft of escrow funds nets 12 years in prison

The former owner of an Ohio title insurance agency has been sentenced to 12 years in prison and ordered to pay more than $7 million in restitution for allegedly stealing escrow funds from hundreds of individuals and businesses.

Steve Clayton, the former owner of Equity Land Title Insurance Inc., allegedly used a check kiting scheme from 1995 to 2002 to pay previously closed real estate transactions for which he had already spent the funds.

more...

To continue reading sign in to your Premium Member account.

Premium Members have full access to all news archives.

Buy Now Purchase 1-year Premium Membership - $149.95

OR

Buy Now Purchase Monthly Premium Membership - $19.95

All rights reserved. This content may not be used or reproduced in any manner whatsoever, in part or in whole, without written permission of Inman News. Use of this content without permission is a violation of federal copyright law.