Former Title Insurance Agent Sentenced for Embezzlement

WASHINGTON, Aug. 24 -- The U.S. Attorney for the Middle District of Pennsylvania issued the following news release:

The United States Attorney's Office announced today that Ellery A. Crissman, age 45, presently resides in Lock Haven, Pennsylvania received a sentence of 57 months imprisonment and three years supervised release on the charge of embezzlement from a title insurance business. Senior District County Judge Malcolm Muir imposed the sentence in Williamsport following Crissmans' plea of guilty to the embezzlement violation on September 3, 2009. Judge Muir also ordered him to pay $1,562,257.67 in restitution to over 50 victims of the embezzlement.

United States Attorney Peter J. Smith stated that in pleading guilty, Crissman admitted that, beginning in September 2007 through December 2008, he embezzled and misappropriated $1,612,707.08 from an escrow account, while serving as a title insurance agent for Ticor Title Insurance Company, a title underwriter in Philadelphia. At the time he embezzled the funds, Crissman also was the president and treasurer of Fidelity Closing Services LLC, a real estate settlement services company based in State College, Pennsylvania, which conducted closings for real estate transactions involving lenders and mortgage brokers from Pennsylvania and other states. The funds stolen by Crissman from the escrow account were for the purpose of satisfying liens, mortgages, and related fees in connection with real estate closings. The embezzlement and misappropriation of these funds from the escrow account by Crissman caused the issuance of numerous insufficient funds checks to recorders of deeds, banks, lenders, mortgage companies, appraisers, and settlement service providers. He admited using the embezzled funds for his personal benefit, including to make transfers covering the operating costs of other companies that he owned, to make personal loans to a State College car dealership, and to make payments to his ex-wife.

Under the terms of the plea agreement filed with information, he agreed that he caused a financial loss of between $1,000,000 and $2,500,000; that the offense involved more than 50 victims; and that he abused a position of trust in committing the offense. He also agreed to make full restitution to victims in the amount to be determined by the court.

United States Attorney Smith stated that the case was investigated by the Federal Bureau of Investigation and prosecuted by Assistant United States Attorney George J. Rocktashel.

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