Michelle L. Trivette Shepherd, of West Jefferson, North Carolina, a former real estate attorney, has pleaded guilty to defrauding some 275 clients out of $5.2 million. Specifically, Shepherd pleaded guilty to sixteen counts of felony embezzlement and 10 counts of obtaining property by false pretense by not paying off at least 23 mortgages, being involved in a check-kiting scheme and keeping funds paid by clients for title insurance policies without actually purchasing them. Shepherd was indicted last July and has surrendered her law license to the North Carolina Bar, pending an inquiry. She was sentenced to serve as much as 20 years in prison, plus restitution. According to her lawyers, Shepherd has cooperated with the authorities and full restitution will be made.
Read the story here.
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As one of the victims in this case, and having heard the testimony in the courtroom yesterday, I have been told by better sources than, apparently, her attorneys, that I will most likely receive NADA from either her bankruptcy or restitution. Begs the question why the newspaper thought her lawyers were a good source to quote...
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