President of company in Searcy is in jail on fraud charges - KAIT Jonesboro, AR - Region 8 News, weather, sports

President of company in Searcy is in jail on fraud charges

LITTLE ROCK, AR (KAIT) - A Searcy woman faces fraud charges after it was found she used escrow money for personal use.

According to United States Attorney for the Eastern District of Arkansas, Marci Ann Ingram, 41, was sentenced to 24 months in jail plus three years of supervised release for mail fraud related to the Landmark Closing Company.

Ingram pled guilty to mail fraud on April 12. The charges involved activities Ingram did as president and principal shareholder of the Landmark Closing Company from 2006 through mid-2009.

Investigators in the Criminal Division with the Arkansas Insurance Department found that Ingram had been diverting money from an escrow account to other working accounts of LCC for her personal use.

The FBI was then contacted and they found she used the money to pay for trips, Arkansas Razorback tickets, Neflix, iTunes, online gambling, clothing, makeup, country club dues, Facebook certificates, and other non-business related expenses.

The checks issued to lien holders from the escrow account to be used for legitimate payments were returned by the bank as insufficient due to the lack of funds. Then, the company who inspired the property titles for LCC, the Old Republic National Title Insurance Company, had to pay $418,828.68 in claims plus the losses to lien holders.

An order of restitution will be issued to Ingram after they determine exactly how much she has repaid and how much she still owes.

Copyright 2013 KAIT. All rights reserved.

  • Region 8 News</span><a class="customMoreLink" href="/Global/category.asp?C=4391" target="_top">More >></a>Region 8 NewsMore>>

  • Vehicle overturns on HWY 67, killing woman

    Vehicle overturns on HWY 67, killing woman

    Monday, May 29 2017 7:45 AM EDT2017-05-29 11:45:32 GMT
    Monday, May 29 2017 7:48 AM EDT2017-05-29 11:48:17 GMT
    (Source: Raycommedia)(Source: Raycommedia)

    A Region 8 woman died early Saturday morning after she was thrown from a car during a crash.

    A Region 8 woman died early Saturday morning after she was thrown from a car during a crash.

  • SLIDESHOW: May 28-June 3 Mug Shots

    SLIDESHOW: May 28-June 3 Mug Shots

    Sunday, May 28 2017 5:35 PM EDT2017-05-28 21:35:11 GMT
    Monday, May 29 2017 7:01 AM EDT2017-05-29 11:01:20 GMT
    (Source: Raycom Media)(Source: Raycom Media)

    A photo gallery of mug shots from the Craighead County Sheriff's Office.

    A photo gallery of mug shots from the Craighead County Sheriff's Office.

  • Police investigating after baby found dead

    Police investigating after baby found dead

    Sunday, May 28 2017 7:00 PM EDT2017-05-28 23:00:13 GMT
    (Source: KAIT)(Source: KAIT)

    A criminal investigation is being conducted into the death of a nine-month-old baby found dead in a hotel, Batesville Police Chief Alan Cockrill said Sunday. 

    A criminal investigation is being conducted into the death of a nine-month-old baby found dead in a hotel, Batesville Police Chief Alan Cockrill said Sunday. 

Powered by Frankly