The One to Count On...

Former Pella Attorney Pleads Guilty to Wire Fraud

Posted: Tuesday, May 10th, 2011 at 4:09 pm
Author: KNIA/KRLS News-Dr. Bob Leonard

Former Attorney Franklin R. York of Pella pled guilty in federal court in Des Moines to one account of wire fraud, according to US Attorney Nicholas A. Klinefeldt with the Department of Justice, Southern District of Iowa. According to the plea agreement, York owned and operated Escrow and Closing Services of Marion County, since 2005, and provided real estate closing and refinancing services. Funds from real estate purchases and refinancing were wired to the companies escrow account to be used to pay balances of real estate sellers or persons refinancing. Beginning in at least 2009, York took money from the escrow account for his own purposes. As of February 1 of 2010, there were 10 mortgages that York received funds to pay, but did not. This involved nine individuals and totaled $907,600. Sentencing has been scheduled for August 12, 2011 at 10:00 at the US Courthouse in Des Moines. York faces a maximum sentence of up to 20 years imprisonment and a maximum fine of $250,000.