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Manager at St. Louis title company indicted for diverting escrow money

Manager at St. Louis title company indicted for diverting escrow money

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ST. LOUIS   •   The former office manager of a St. Louis title company was indicted Thursday on two count of wire fraud for allegedly using customer money from an escrow account to pay company bills.

Elizabeth Glosemeyer, 45, of St. Louis County, worked for Lenders Guarantee Title Company, the indictment says.

After the 2008 financial crisis, Lenders also suffered, and sometimes didn't have enough cash to pay their bills, the indictment says. From at least January 1, 2009 until July 9, 2012, Glosemeyer used customer money from the firm's escrow account to make up the difference, the indictment says.

As the deficit grew, Glosemeyer altered financial records to cover up the missing money. An audit uncovered Glosemeyer's actions and triggered the closing of the company, the indictment says.

Glosemeyer could not be immediately reached for comment Thursday.

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