Lawsuit says SW Missouri title company missing $4.5 million

Friday, June 29, 2007
OZARK, Mo. (AP) -- A lawsuit from the underwriter of a southwest Missouri title company claims about $4.5 million is missing from the title company's accounts.

The lawsuit also alleges that Nixa-based Guaranty Title Company had a scheme to move funds between different banks and accounts to cover shortages. The lawsuit was filed by underwriter Commonwealth Land Title Insurance Company on Wednesday.

Commonwealth is suing Guaranty Title for breach of contract.

Guaranty Title abruptly closed last month.

The Springfield News-Leader says a Christian County court has granted a temporary restraining order that stops Guaranty Title and its officers from accessing company bank accounts, business documents, accounting records or offices.