A very good friend of mine who owns her own escrow company was involved in 2 fraud cases recently. One was a couple who defrauded a title company of $800,000 and a single man who attempted $750,000 in a fraud case. In both cases Title requested funds be released and the couple got the money before the mistake was found. The notary had taken a pic of the female and someone sent the pic to title and she was identified as someone else but it was too late, they were gone.
In the second case, Title wanted the funds released but my friend had a feeling something wasn't right and after stalling a bit, told the client that he had to deposit the check in the bank. He was requesting it be wired to him but escrow refused and told him it had to be deposited. It was then that they found that he was identified as someone else.
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