Title company owners accused of fraud
November 19, 2009
Total Loss:
$2.5 million
A Sarcoxie woman and a Nixa man have been indicted by a federal grand jury in connection with an alleged conspiracy to commit bank fraud, wire fraud and money laundering totaling more than $2.5 million. The indictment alleges that Kathy C. Allen and Richard G. Burton conspired to defraud financial institutions of the money through a series of illegal transfers of funds involving escrow payments. They then tried to conceal this activity through a complicated check-kiting scheme, according to the indictment.
Source:
Joplin Globe
Posted in:
Internal Fraud