James Georges Mourra, the former Florida title agency owner charged last month with escrow theft, had hoped to get his $1 million bond reduced. But the bond reduction was denied after investigators with the Department of Financial Services charged him with 41 additional felony counts.
Mourra, 40, who founded Equitable Title Insurance Services Inc., in the late 1990s and closed it in May, is charged with reportedly stealing more than $5.5 million from property escrow accounts. Investigators with the department’s Division of Insurance Fraud allege Mourra left several families homeless while he bought yachts, a Venetian Way home and seven luxury automobiles. The yachts, home and cars have all been placed in receivership. If convicted on all counts, Mourra now faces a minimum of 10 years in prison and up to 530 years in prison.
“This individual may have single-handedly destroyed the dream of home ownership for several families,” said Florida’s Chief Financial Officer Tom Gallagher, who oversees the Department of Financial Services. “The charges and potential penalties are serious and reflect the seriousness of the allegations.”
Mourra allegedly diverted the money from escrow accounts held by his company, Equitable Title Insurance Services, Inc. The accounts belonged to various homebuyers, homeowners, lenders and Attorney’s Title Insurance Fund, Inc.
Investigators said he transferred the money between April 12, 2002, and May 7, 2003, to personal accounts and entities he held.
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