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>>

  • Man recently released from jail shot to death in St. Louis

    Man recently released from jail shot to death in St. Louis

    Saturday, May 26 2018 3:06 PM EDT2018-05-26 19:06:06 GMT
    (Source: Raycom Media)(Source: Raycom Media)

    Authorities say a man shot to death on a St. Louis street near Interstate 70 had been released from jail only a week earlier.

    Authorities say a man shot to death on a St. Louis street near Interstate 70 had been released from jail only a week earlier.

  • A-State's disaster preparedness program ranked as top in nation

    A-State's disaster preparedness program ranked as top in nation

    Friday, May 25 2018 1:30 PM EDT2018-05-25 17:30:28 GMT
    Saturday, May 26 2018 8:42 AM EDT2018-05-26 12:42:43 GMT
    (Source: KAIT)(Source: KAIT)

    Arkansas State University’s Regional Center for Disaster Preparedness was honored recently by a college ranking website, College Choice.

    Arkansas State University’s Regional Center for Disaster Preparedness was honored recently by a college ranking website, College Choice.

  • Local high school graduates inaugural senior class

    Local high school graduates inaugural senior class

    Friday, May 25 2018 11:05 PM EDT2018-05-26 03:05:02 GMT
    Friday, May 25 2018 11:36 PM EDT2018-05-26 03:36:46 GMT
    KIPP graduated their inaugural senior class. (Source: KAIT-TV)KIPP graduated their inaugural senior class. (Source: KAIT-TV)
    KIPP graduated their inaugural senior class. (Source: KAIT-TV)KIPP graduated their inaugural senior class. (Source: KAIT-TV)

    It's a milestone for the 36 graduating seniors for one local high school.

    It's a milestone for the 36 graduating seniors for one local high school.

Powered by Frankly