Nicole Athey, 38, Greenville, Michigan, was convicted of racketeering and embezzlement involving more than $1 million that was taken over four years from the Crowne Title Agency. "People in positions of trust owe a duty to those who entrust them with their money," said Attorney General Mike Cox. "Let today's sentence be a reminder that when trust is betrayed, they will be prosecuted."
From July 2002 through February 2006, Athey was a partner in the Crowne Title Agency located in Greenville, Michigan. During the time that Athey was a partner in the agency, she was responsible for maintaining the escrow account which contained the money used by clients of the agency to purchase and sell real estate. The investigation, led by the Michigan State Police and the Attorney General, revealed that Athey used her position of trust to take money from the escrow account and purchase items for her personal use. Among those purchases, Athey bought:
• Two cars totaling more than $75,000;
• A $47,000 bass fishing boat;
• Snowmobiles;
• A pole barn; and
• She purchased the Gibson Bed and Breakfast in Greenville for $330,000.
Athey pled no contest to one count of racketeering, a felony that carries a maximum penalty of 20 years in prison, and one count of embezzlement over $20,000, which carries a maximum penalty of 10 years in prison. Restitution in excess of $1 million will be sought.


Rachel Dollar, the editor of Mortgage Fraud Blog is an attorney and Certified Mortgage Banker who handles litigation for lending institutions and secondary market investors.