2 Missouri residents sentenced on federal fraud charges
Thursday, December 2, 2010
SPRINGFIELD, Mo. (AP) — The owners of a Nixa title company have been sentenced in federal court on wire fraud and money laundering charges.
Federal prosecutors in Kansas City said Wednesday that 60-year-old Richard Burton and 53-year-old Kathy Allen were sentenced Nov. 30. Burton was sentenced to about six years in prison. Allen was sentenced to three years.
Burton was president of Guaranty Title Company of Southwest Missouri. Allen was vice president. They pleaded guilty earlier to conspiracy to commit wire fraud and conspiracy to commit money laundering. Allen also pleaded guilty to conspiracy to commit bank fraud.
They were accused of defrauding financial institutions and individuals of more than $4 million and were also ordered to repay the $4 million.