Crofton Title Company Accused Of $1M Misappropriation

| February 9, 2011 | 0 Comments

According to the Baltimore Sun, Beltway Title & Abstract, a Crofton based title firm has had all of its licenses suspended by State regulators.  The Maryland Insurance Administration has accused the firm and its two principals, John J. Dwyer and Joseph C. Hughes, of misappropriating over $1,000,000 of settlement funds to pay operating expenses of the firm. The scheme came to light in December 2010.

If you suspect that your closing costs, mortgages, or taxes may not have been properly paid, the Administration is requesting that you make a report by calling them at 410-468-2354. However, consumers do not need to worry about their mortgages as the surety that backed the title company, Fidelity National Title Group, will make the payments.

The firm’s website appears to have been effectively disabled with the only operable link directing you to (ironically enough) Home Closing 101–Protecting Your American Dream.

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