Syracuse, Utah ' Ryan Goodrich, who ran Synergy Title in Syracuse, was prosecuted and sentenced after prosecutors say he diverted more than $9 million in funds from real-estate closings over roughly two years.

"He stole more than $9,000,000 from real estate buyers, sellers, and lenders over 2 years," said Richard Piot, host of the Legally Speaking program, summarizing the case at the start of the interview.

Wayne Jones, an assistant attorney general in the Utah Attorney General's Mortgage and Financial Fraud Division, described the scheme as falling into "three general categories of fraudulent behavior" in which Goodrich purported to close transactions, took buyers' funds at closing, and redirected purchase proceeds "to his own purposes" instead of dispersing them as required. Jones said title agents are fiduciaries required to disburse funds, typically within three business days, and that Goodrich repeatedly failed to do so.

Jones said investigators believe the misconduct unfolded over approximately two years and intensified during about one year of that period. "A lot of these transactions involved normal everyday homeowners," Jones said, adding that victims ranged from people of modest means to real-estate developers.

The Attorney General's office secured a conviction and sentence. Jones said the court ordered restitution of just over $6.5 million and sentenced Goodrich to prison. He added investigators have found extensive cash and undocumented withdrawals from trust accounts and, as far as the state can determine, Goodrich appears to lack assets sufficient to repay the full $9 million loss.

Some victims recovered money through title insurers or by hiring attorneys and filing claims, Jones said, but others were left with destroyed credit and continuing mortgage obligations. Jones recounted one example of an Ogden man who sold his home to Goodrich, whose mortgage remained unpaid; the man lost housing, lived in his truck for a time and has not been reimbursed.

Jones described additional concealment tactics investigators found: forged wire receipts, bad checks and other fraudulent documents Goodrich used to reassure victims or appear to have completed payments. "He would even send wire receipts that he had concocted that were fraudulent documents," Jones said.

Regulatory fallout followed: Jones said Synergy Title has been closed and delicensed, Goodrich's license has been permanently revoked by the Utah Department of Insurance, and his plea agreement bars him from working in any capacity in the title or real-estate industry.

The Utah Department of Insurance and the Attorney General's office handled many complaints; Jones encouraged consumers to use online tools and to contact the Department of Insurance when they spot warning signs. He emphasized that, while title agents must be trusted to handle large transactions, prosecutors view this as an anomalous, not systemic, occurrence.

The Attorney General's office said stopping the conduct and deterring others were priorities when pursuing the criminal case. The sentence, the restitution order and the industry ban are the most recent procedural developments in the case.