QUICK SUMMARY
Stephen Webster, former owner of Success! Real Estate, faces charges for allegedly embezzling over $11.6 million from clients and employees to fund a lavish lifestyle. Prosecutors claim he misused escrow funds for personal expenses, including luxury cars and vacations, while failing to repay employees after the firm's closure in December 2024.
Stephen Webster, former owner of Success! Real Estate, faces serious legal repercussions after allegedly embezzling over $11.6 million from clients and employees. He has been indicted on several charges, including fiduciary embezzlement and larceny by scheme. Prosecutors claim that Webster misused client escrow funds for lavish personal expenses, such as purchasing luxury vehicles and taking expensive vacations. Following the firm's closure in December 2024, brokers filed a lawsuit against him for nearly $500,000 in unpaid commissions. Investigators began scrutinizing Webster's financial activities in March 2023, revealing a consistent pattern of misuse of escrow funds. He reportedly forged bank documents to mislead investigators about the existence of a substantial escrow account. Webster's financial maneuvers included high-velocity transfers and check-kiting, indicative of cash-flow manipulation. His actions not only led to his indictment but also resulted in significant financial distress for numerous employees and clients who trusted him.