Former Springboro, Ohio title insurance agent Pamela Sue Moore has been sentenced to two years in prison, for using funds in her company's escrow account to buy her own house.
Moore was convicted of theft in Montgomery County Common Pleas Court for mishandling $360,000 in escrow funds she held in trust to close real estate transactions for her customers.
In 2006, Moore wanted to purchase a home at 6222 Flemington Rd. in Centerville, Ohio for her own use. When Moore failed to obtain financing for her purchase, she went to Plan B-- raiding the escrow accounts of the title agency she owned, Dedicated Land Title Agency, LLC. As part of the closing, Moore, through Dedicated Land Title, paid approximately $144,000 from her escrow account to the seller’s mortgage company and about $39,000 in proceeds to the seller.
In addition, Moore paid $17,000 for office computer products and supplies for her company with funds from Dedicated Land Title’s escrow account.
Moore's underwriter eventually covered the losses incurred by Moore’s customers as a result of the theft. The Ohio Department of Insurance revoked Moore’s resident title insurance agent and her Dedicated Land Title, LLC agency license in 2007.