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Co-owner of Missouri title firm pleads guilty in fraud

Monday, April 19, 2010 | 2:45 p.m. CDT; updated 11:48 a.m. CDT, Wednesday, May 5, 2010

SPRINGFIELD — The co-owner of former southwest Missouri title company has pleaded guilty in a wire fraud scheme involving stolen escrow payments.

Kathy Cyrena Allen of Sarcoxie, also known as Kathy Stanton pleaded guilty in federal court Monday to three counts of conspiracy. The 52-year-old Allen was co-owner of Guaranty Title.

Her co-defendant, 59-year-old Richard G. "Rick" Burton of Nixa, pleaded guilty last week to two conspiracy counts.

Allen and Burton acknowledged that they defrauded financial institutions out of more than $2.7 million through a scheme to steal escrow payments. They concealed the crimes through a check-kiting scheme.

Guaranty Title was based in Nixa and had branch offices in Aurora, Branson, Mount Vernon, Ozark, Springfield and Republic.

 


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