Nearly $3 Million Missing From North Texas Title Company: Regulators - NBC 5 Dallas-Fort Worth

Nearly $3 Million Missing From North Texas Title Company: Regulators

Former owner denies wrongdoing

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    Former Owner Denies Wrongdoing in Missing Money

    A judge on Tuesday temporarily froze bank accounts linked to the former owner of a North Texas title company after regulators said nearly $3 million was missing. (Published Tuesday, Feb. 2, 2016)

    A judge on Tuesday temporarily froze bank accounts linked to the former owner of a North Texas title company after regulators said nearly $3 million was missing.

    The company, Millennium Title, was taken over by the Texas Department of Insurance last week amid allegations the former owner, Nancy Carroll, had disappeared.

    Travis County District Judge Tim Sulak ordered the accounts frozen after state regulators claimed Carroll and others improperly transferred money from the title company's escrow account to separate accounts that they controlled, according to court documents.

    "It is estimated that a total of $2,875,338 is missing from the title company escrow accounts," an attorney for the state wrote. "It is feared that the missing money could be moved before it is frozen."

    In the same document, regulators said Carroll had disappeared and had not appeared at the office since Jan. 12 and had not answered emails or phone calls since Jan. 19.

    Late Tuesday, Carroll reached out to NBC 5 in an email, claiming Millennium's managers had voluntarily asked the state to take over the company and denying any wrongdoing.

    "I deny all the allegations directed to me in your story," she wrote. "I have no further comment."

    She did not say where she was and declined an interview.

    An investor claims in a lawsuit in Tarrant County District Court that Carroll "left the country" after absconding with more than $1 million of his money.

    Millennium Title was based in Southlake but had other offices in Plano, Frisco, Addison and Dallas.

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