Former Maryland Insurance Agent Pleads Guilty to Stealing $369K

April 8, 2024

A former Maryland title insurance agent recently pleaded guilty to carrying out a multi-year theft scheme netting her more than $369,000, according to the state attorney general.

Cheryl Leigh Gray was a licensed insurance producer working as the operations manager at Passport Title Services in Rockville, Maryland. Passport Title is a real estate settlement firm and title insurance agency in Maryland, Virginia, and Washington, D.C. From May 2016 through July 2021, prosecutors say Gray stole $369,492.01 from Passport Title. The funds consisted of settlement proceeds being held for disbursement in real estate transactions handled by Passport Title.

According to Attorney General Anthony Brown’s office, over the six-year scheme, Gray used her position as operations manager to execute 58 wire transfers from Passport Title’s escrow accounts, transferring the funds to her personal bank account maintained in Frederick County.

Gray was sentenced to five years of incarceration, with all but one year suspended. Upon release, Gray will be on supervised probation for five years and will be required to pay $63,536.46 in restitution. Prior to the guilty plea and sentencing, Gray repaid $305,995.55 to the victim.

Topics Fraud Agencies Maryland

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