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St Louis Real Estate Search

Lenders Guarantee Title Company Manager Pleads Guilty to Wire Fraud

Lenders Guarantee Title Company Manager

Lenders Guarantee Title Company Manager, Elizabeth Glosemeyer, plead guilty yesterday to two counts of wire fraud stemming from her activities as manager of the title company.  In an indictment issued in June, it as alleged that “profitability suffered” at Lenders Guarantee Title as a result of the financial crisis of 2008 leaving the company without sufficient cash flow to pay its bills and obligations causing Glosemeyer, as manager, to “take money from the Lenders escrow account to fund operations.” This ultimately left the escrow account for the title company short and as a result, according to the indictment, Lenders Guarantee Title Company “failed to fund at least one real estate transaction for an amount in excess of $200,000.

Glosemeyer’s sentencing is scheduled for November 15, 2013.

Always know the title company you are trusting to handle your transaction…my favorite?  Investors Title….

http://stlre.com/st-louis-title-insurance-investors-title/

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