A guy got fired from my mother-in-law's office a few months ago:
FBI: Escrow embezzlement could reach $1.5 million - Escrow News and Comment
Quote:
An administrator from Chicago Title and Trust was charged this week with embezzling thousands of dollars from an Escrow account, though federal authorities fear he may stolen more than $1.5 million over time.
FBI agents arrested Elvir Sinikovic at his Elk Grove Village home Wednesday morning. He was later charged with embezzlement of bank funds and was initially ordered held without bond before he was released today on a $100,000 secured bond by a federal judge.
Authorities said Sinikovic, 33, an escrow administrator with the Chicago Title and Trust Company, authorized a $50,000 wire transfer from an escrow account at his job to a bank account used to fund construction projects.
But authorities later determined that $40,000 of the money was expected to be converted into a cashier's check that would be given to Sinikovic's wife to buy real estate from the title company where Sinikovic worked. The remaining cash would be given directly to Sinikovic, authorities said.
While Sinikovic is only charged with one incident, authorities suspect he'd made more than 100 similar unauthorized transfers totaling more than $1.5 million.
If convicted, Sinikovic faces up to 30 years in prison. His wife hasn't been charged with any wrongdoing.
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I do know a little bit more than is covered in the story that I won't go into. But I do know this guy lived in a million dollar house, had a boat, and drove an $80,000 BMW on a salary that couldn't support it. He claimed to be getting money from family in Europe...but it's far more likely that he'd been ripping off his employer for quite a while...