Molly L. Heise, 49, Chaska, Minnesota, was arrested and indicted for defrauding clients and lenders of approximately $2.5 million. Heise, the former president of Profile Title & Escrow Corporation, Bloomington, Minnesota, made her appearance in federal court and was subsequently released on bond.

The indictment, which was unsealed following the arrest of Heise, charges Heise with six counts of engaging in monetary transactions with property derived from specified unlawful activity. Specifically, the indictment states that in January of 2002, Heise opened an escrow account to be used as a depository for funds received from various lenders for use in closing real estate transactions at her place of business. The indictment alleges, however, beginning in November of 2001 and continuing through January of 2004, Heise repeatedly transferred money from the escrow account to her “integrity” account, a personal account from which she then paid approximately $2.5 million in personal expenses.