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

President of company in Searcy is in jail on fraud charges

Posted:
  • Most Popular StoriesMost Popular StoriesMore>>

  • High school senior kicked out of prom for wearing pants

    High school senior kicked out of prom for wearing pants

    Tuesday, April 22 2014 12:27 PM EDT2014-04-22 16:27:58 GMT
    According to a senior at Cherryville High School, a pair of her red skinny jeans got her kicked out of her Senior Prom and has started a bit of a controversy at the school since. "In a way it's kind of
    According to a senior at Cherryville High School, a pair of her red skinny jeans got her kicked out of her Senior Prom and has started a bit of a controversy at the school since.
  • Residents react to missing machete man

    Residents react to missing machete man

    Tuesday, April 22 2014 8:39 PM EDT2014-04-23 00:39:51 GMT
    POCAHONTAS, AR (KAIT) - Police are still searching for a possibly armed suspect, 26-year-old Jeffrey Wegener. Wegener stole an Oregon County Sheriff Department deputy's truck Sunday night and drove it
    POCAHONTAS, AR (KAIT) - Police are still searching for a possibly armed suspect, 26-year-old Jeffrey Wegener. Wegener stole an Oregon County Sheriff Department deputy's truck Sunday night and drove it
  • Update: Memorial fund established for drowning victim

    Update: Memorial fund established for drowning victim

    Tuesday, April 22 2014 10:04 AM EDT2014-04-22 14:04:52 GMT
    JONESBORO, AR (KAIT) – A memorial fund has been created for an 11-year-old girl who died after she became trapped beneath a pipe in a water-filled ditch for 20 minutes.
    Kyria Seymour of Jonesboro died Saturday, April 19, at LeBonheur Children's Hospital in Memphis, TN. A memorial fund has been created for an 11-year-old girl who died after she became trapped beneath a pipe in a water-filled ditch for 20 minutes.

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.

Powered by WorldNow

472 Craighead Co. 766
Jonesboro, AR 72401
(870) 931-8888

FCC Public File
publicfile@kait8.com
(870) 336-1816
EEO Report
Closed Captioning

All content © Copyright 2000 - 2014 Worldnow and KAIT. All Rights Reserved.
For more information on this site, please read our Privacy Policy and Terms of Service.