Title company exec pleads to embezzling [Orlando Sentinel]

Oct. 14--Orlando resident Douglas Wayne Bartle III, founder of Vision Title LLC, pleaded guilty to embezzlement charges recently in U.S. Middle District Court.

Bartle, also known as Ridgely Bartle, founded the limited liability company in 2004. It had offices in Orlando and throughout Florida, court filings show. After the real estate market spiraled downward starting in 2007, he began embezzling more than $1 million from escrow accounts using computer servers in North Carolina, according to the plea agreement reached with U.S. Attorney Robert E. O'Neill.

Stewart Title Insurance Co. underwrote Vision Title until 2008 and then Ticor Title Insurance Co. became Vision's underwriter. Ticor found discrepancies in Vision Title's bank statements on Wachovia Bank accounts.

"The original bank statements clearly showed that Bartlett had provided Ticor with fraudulent bank statements to cover his embezzlement from Vision Title escrow accounts," the plea deal reads.

On finding the discrepancies, Ticor closed Vision Title and notified law enforcement. Ticor lost $850,000, records show. Bartle agreed to repay Stewart Title and Ticor Title. Sentencing can carry a maximum of 20 years imprisonment and a fine of as much as $250,000.

Sales

Bill Parke, of Colliers International Central Florida represented the seller, National Semi-Trailer Corp. in the $2 million sale of 18 acres at 2300 East Landstreet Road, Orlando. Located near Florida's Turnpike, Interstate 4 and the Orlando International Airport, the property was developed for semi-truck storage and includes a 7,813-square-foot office building. It was purchased by Bowman Trailer Leasing. Corp.

CBRE Capital Markets arranged $5.6 million in financing on behalf of IMA -- Park Place LLC for the acquisition of Park Place at Heathrow, a 36,044-square-foot retail center in Lake Mary. CBRE Vice President Christopher Apone of the Miami office secured the financing for the borrower. Christian Lee and Charles Foschini, CBRE Capital Market Institutional Group in Miami, also represented the borrower. The loan was secured through RAIT Financial Trust.

Dowd Properties and Hendricks & Partners negotiated the sale of The Preserve at Sugar Mill in New Smyrna Beach for $595,000. Cole Whitaker, Hendricks & Partners partner for the Southeast, and Jim Dowd, of Dowd Properties, negotiated the sale of a 208-acre residential development parcel representing the seller, Capstone Resdev LLC. The buyer was Elbert Land Company LLC.

Marcus & Millichap Real Estate Investment Services represented the buyer and seller in the $6.1 million sale of Stonewood Townhomes, a 176-unit townhome community in Melbourne.

Leases

Shotski's Food and Drink Inc. signed a five-year, two-month lease for 4,050 square feet of retail space at Longwood Lakes shopping center in Longwood. Jim Gruber and Eva Grace Royal of Quest Company of Central Florida Inc. represented the landlord, Longwood Lakes Ltd.John Secor of Exit Real Estate Results represented the tenant.

Design

Rhodes+Brito Architects, based in Orlando, won a contract for continuing architectural services for Valencia College. The award includes projects for architectural services under $2 million in construction and $200,000 in fees for design studies annually. Rhodes+Brito has completed several projects previously on the east and west campuses of Valencia College.

mshanklin@tribune.com or 407-420-5538

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