Florida Title Company owner sentenced to prison for fraud

Jonathan Yasko, 47, of Winter Springs, Florida, was sentenced to 27 months in prison after pleading guilty to committing wire fraud between 2021 and 2023 and diverting lenders' funds in real estate transactions to other accounts. Funds were used for other unrelated closings (usually to make-up for escrow shortages) or to Yasko's personal account to pay for personal and luxury spending on cars, vacations, and home furnishings.

Yasko's activity resulted in numerous botched closings involving loans purchased or owned by Freddie Mac, according to the U.S. Attorney's Office for the Middle District of Florida and the Federal Housing Finance Agency's Office of the Inspector General. The title industry figure, who was charged last April, tried to conceal his activity, feds said.

The companies Yasko ran include Entrust Solutions, Capital Land Settlements, and Global Partners Settlements.

His largest fraudulent transaction involved First American Title Insurance Co., and saw Yasko divert $201,000 in lender funds to cover the payoff of an unrelated settlement. First American endured a title insurance loss of $288,843. U.S. District Judge Julie Sneed ordered Yasko to pay $201,004 in restitution.

Sneed also sentenced Yasko to three years of supervised release. According to a sentencing memorandum prepared by his attorney, Yasko claims to have already paid $23,000 toward his restitution.

An attorney for Yasko declined to comment.

Mortgage Fraud. Mortgage Post-Closing Audits. Mortgage Quality Control.