Maryland Title & Escrow is owned by David Wehrs. He appears in many of our claims. On February 1, 2010, the SEC sued him for a $1.96 offering fraud scheme. The SEC Complaint is fun reading. It alleges a scheme where money was solicited in order to support "day trading," a self-owned home improvement business, and vacations in the British Virgin Islands.
And as the the late-night television ads declare, "wait, there's more!"
On March 1, 2010, Mr. Wehrs pleaded guilty in the U.S. District Court for the District of Maryland to one count of wire fraud, in connection with the same scheme. The Government's recitation of facts says that at least $630,000 was diverted from a real estate settlement fund intended to payoff mortgages. The Government got him for wiring stolen funds to a brokerage located in another state. If you have access to PACER, you can read the sordid details in case number 1:10 cr 00038. Mr. Wehrs will be sentenced in May, and faces 20 years, plus a restitution order.
If you think you may have a claim against Mr. Wehrs or his entity, arising from his conduct of real estate settlements, you will be at the end of a long line.