Texan Sentenced for Misappropriating Escrow Funds

Allison Tussey —  August 6, 2012 — 8 Comments

Ty Howerton was sentenced by Judge Richard A. Schell on July 10, 2012, to 60 months in prison on Count 1 of a sealed criminal information. After Howerton is released from prison, he will serve 3 years on supervised release.  The defendant was also ordered to pay $7,905,767.00 in restitution and a $100.00 special assessment fee.  Howerton was sentenced for his role in misappropriating escrow funds.

As previously reported by Mortgage Fraud Blog, Howerton was charged along with Jason Chumley and Rick Payne who solicited a victim to loan Howerton money to purchase two pieces of real estate. Howerton and Payne assured the victim the funds he would be loaning would be protected from embezzlement because the funds would be placed in escrow accounts with Payne or Jason Chumley. Howerton and Payne, with assistance from Chumley, transferred the loan funds out of the escrow accounts without the consent of the victim and used the funds for their own purposes.

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Allison Tussey

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8 responses to Texan Sentenced for Misappropriating Escrow Funds

  1. I have had some dealings with Mr Chumley where myself and few friends invested in the same type of real estate deal and it appears as if I have just given him several thousands and thousands of dollars. I am kinda at a loss on what to do next. He and his sister are in on this together. Was wanting to see if anyone could advise what to do next. Thanks

  2. Rick Payne is a scam artist and a crook and a thief

  3. Ty borrowed 64k from me in this “escrow” deal of his promising he would pay it with a return in 30 days on secured money.. yeah, we all got really screwed by this guy.

  4. Robert Dehaemers August 24, 2013 at 5:05 pm

    Ty build my house which I love…..but it was was a battle to get everything completed. Which never was finished . He and the entire Southwest Building outfit were a bunch of crooks. Let his obese ass suffer in jail. He is like a large ball waiting to roll down a hill. Seven years later.

  5. I use to work for this guy. He was a crook. He did a lot of other bad stuff in home building. Glad it caught up to him.

    • Brad,

      I am looking for information related to Mr. Howerton’s past business practices. Could you give me call at my office. (817) 878-9390.

      Best,

      Chase

    • I was burnt by this guy as well. I saw that Rick Payne was also charged with Ty, anyone know if he was sentenced? Brad, I think I met you during one of my many trips to his office trying to collect money I invested in this bogus company.

    • Brad,

      I would love to talk to you about this guy… if only for a minute. If you would be so kind to email me. In fact, any of you that can talk about his home building process, I will buy you lunch :-). I’m at 972-977-8260.

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