Friday, August 14, 2009

Pennsylvania Title Insurance Exec Charged With Embezzlement

Ellery A. Crissman, II, 44, of Lock Haven, Pennsylvania was charged with embezzling some $1.6 million from Fidelity Closing Services LLC, a title insurance company based in State College, Pennsylvania, where he served as president and treasurer. According to the one count criminal Information, Crissman took the funds from an escrow account between September 2007 and December 2008. The stolen funds were reportedly used to pay the operating costs of other companies he owned, to make personal loans to a State College car dealership and to make payments to his ex-wife.

Read the story here and here.

Update (8/25/10): Crissman was sentenced to a minimum 57 months in federal prison for embezzling nearly $1.6 million from escrow company, Fidelity Closing Services. He must also play $1.56 million in restitution to some 50 victims.

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