Biloxi attorney pleads guilty to massive fraud

The Sun Herald is reporting today that Stephen Colson pleaded guilty to a bill of information in federal court yesterday.  He was a settlement and closing attorney who owned Prestige Title and Advanced Title and Escrow.  He was diverting funds from his escrow account for personal use and covering up the missing funds with later-received funds in a Ponzi scheme of sorts. The losses are alleged to amount to more than $7.7 million.

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