Guaranty Title customers wonder when charges will be filed

by Cara Restelli, KY3 News 9/4/07

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By Brian Vandenberg

OZARK, Mo. -- With $4.5 million of customers' money missing, according to court documents, there are still no criminal charges against anyone in connection with Guaranty Title. It's been more than six weeks since the company abruptly closed its doors, leaving millions of dollars in escrow money in limbo.

Victims of the mishandled money want to know why still no one is being held responsible. When Guaranty Title closed, it opened a floodgate of questions. Where did the millions of the dollars in missing money go? And when will criminal charges be filed?

More than six weeks and several civil lawsuits later, those questions and more still remain unanswered.

"At this point, I haven't heard anything from anyone."

Christian County Prosecuting Attorney Ron Cleek says he too is waiting for answers. He says his job is to prosecute, not investigate, so his hands are tied until someone else conducts an investigation.

"When it happens, I'll review it and see. If there is enough to file, I'll do it as quickly as possible and begin but at this point I haven't heard from anyone."

Anyone includes the Missouri Department of Insurance, which oversees title companies. Spokeswoman Emily Kampeter says investigators with the agency are waiting for Guaranty's underwriter to complete an audit before taking action.

"We will review numbers in great detail so we can start figuring out where the problem started."

She says it could be months before that process is complete and those responsible for the missing money are brought to justice.

"We always are sure to work with local, state and federal officials to make sure they get information to prosecute people."

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