Liberty Title Exec Cops To Misuse Of Clients' Funds

Law360, New York (December 15, 2010, 5:16 PM EST) -- The co-founder of what was one of the largest independently owned title insurance agencies in New York state has pled guilty to misappropriating and embezzling millions of dollars that belonged to clients.

On Tuesday, Brian H. Madden, the former president of Liberty Title Agency LLC, copped to one count of wire fraud and one count of insurance fraud before Magistrate Judge Henry B. Pitman in the U.S. District Court for the Southern District of New York, according to U.S. Attorney Preet Bharara.

Madden, a resident of...
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