Biloxi attorney Stephen Colson to serve five years

The Sun Herald is reporting that Biloxi attorney Stephen Colson was sentenced yesterday to five years imprisonment, ordered to pay more than 8 million dollars in restitution, and serve three years of post-release supervision.   He had plead “guilty in March to falsifying, concealing and covering up material facts in his business and legal dealings.”

Colson, as the owner of Prestige Title Inc. and Advanced Title and Escrow, was a settlement agent and closing attorney, with business headquarters in Biloxi. He has other offices in Mississippi and in Alabama, Florida, Georgia, Louisiana and Texas.

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A federal investigation showed he had diverted money from trust accounts into personal accounts and hidden any shortages in the accounts by co-mingling funds from other accounts when he made payments to financial institutions, according to a joint press release from the U.S. Attorney’s Office and FBI.

 

3 thoughts on “Biloxi attorney Stephen Colson to serve five years

  1. This was an article done of my husband and I back in February-March 2009. No one even contacted us about this case and it took me nine months of phone calls to the FBI and Wells Fargo to finally get our house paid off. Colson did more than defraud banks, he caused so much unneeded stress on families. Five years in nothing compared to what he really deserves

    “Monica Harris and Philip Kreiser didn’t make money when they sold their Ocean Springs home last month, but at least they were rid of it. Or so they thought.
    Now, after a real estate closing was held, money changed hands, and they have already bought another home in Texas, the married Air Force couple has discovered that a check from a title company intended to pay off their $140,000-plus mortgage did not clear.
    For them, however, the bottom line is clear enough. Their mortgage company, Wells Fargo, tells the couple they still owe on the house they already vacated and sold on Old Walnut Road in Gulf Park Estates.
    Now they are turning to a lawyer after dealing with the bureaucracy of mortgage and title companies.
    Harris and Kreiser, both career non-commissioned officers, are not wealthy. But they owe $180,000 on their new Texas home and another $140,000-plus for the Mississippi home they thought was sold.
    “There’s no way we can do that,” Harris said. “This has been so stressful on us.”

  2. Here’s coverage on Jackson Jambalaya.

    Right now I’m reading Law of the Jungle about Steven Donziger’s completely illegal shenanigans in a lawsuit against Chevron regarding Texaco’s drilling of oil in Ecuador. Hard to believe that guy still has a bar license. Personally, I’ve seen lawyers threatened with contempt for leaning against a table in a certain federal judge’s courtroom. This other stuff – stealing, lying, bribing – is just incomprehensible to me.

    • I followed that site for a while. They got the article from Sun Herald. I wonder why no one even called us about this case. Yeah banks are important but what about the lives he put stress on?

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