Syracuse title agent Ryan Goodrich sentenced for stealing over $9 million from clients

The recent government meeting focused on the prosecution of Ryan Goodrich, who was sentenced for committing title fraud in Utah. Goodrich, the former operator of Synergy Title in Syracuse, was found guilty of stealing over $9 million from real estate buyers, sellers, and lenders over a two-year period. The Attorney General's office took action against him, resulting in a prison sentence and an order for him to repay his victims.

During the meeting, Wayne Jones from the Mortgage and Financial Fraud Division provided insights into Goodrich's fraudulent activities. He explained that Goodrich engaged in three main types of fraudulent behavior. Primarily, he mismanaged real estate transactions by taking buyers' funds and diverting them for personal use instead of completing the necessary financial transactions. Typically, in real estate, funds from a purchase are required to be disbursed within three business days after closing, but Goodrich failed to adhere to this standard.

The case highlights significant issues within the real estate industry regarding trust and financial accountability. Goodrich's actions not only harmed individual victims but also raised concerns about the integrity of title companies. The Attorney General's office emphasized the importance of prosecuting such fraud to protect consumers and maintain confidence in real estate transactions.

As the case concludes, the focus will shift to ensuring that victims receive restitution and that measures are put in place to prevent similar fraud in the future. The Attorney General's office remains committed to addressing financial crimes and safeguarding the interests of the public.