On Dec. 28 a Monmouth County grand jury returned a seven-count indictment charging Rebecca Marchese- DePeri-Grande, 37, of Jackson, and her sister, Meredith Miller, 34, of Brick Township, with second-degree conspiracy, second-degree misapplication of entrusted property, seconddegree theft by failure to make required disposition of property received, and second-degree misconduct by a corporate official.
The indictment also charges Miller with one count each of third- and fourth-degree bad checks, and one count of third-degree theft by deception.
Following the return of the indictment, Marchese-DePeri-Grande and Miller were arrested on Dec. 28 by detectives from the Monmouth County Prosecutor’s Office. The Jackson, Brick Township and South Brunswick police departments assisted in the arrests.
Following the arrests, state Superior Court Judge Ira E. Kreizman, sitting in Freehold, set bail for Marchese-DePeri-Grande and Miller at $150,000 each, according to a press release from the Monmouth County Prosecutor’s Office.
The indictment follows an investigation that was conducted by the Monmouth County Prosecutor’s Office. The investigation was initiated in 2005 after numerous individuals complained to law enforcement authorities that after they had refinanced their homes, disbursements that were to have been made to the homeowners’ creditors by Marchese- DePeri-Grande’s and Miller’s title agencies were not made.
According to the press release, the victims learned that the disbursements had not been made when they began receiving late notices from the creditors. In addition, some of the victims were served with foreclosure complaints as a result of Marchese-DePeri- Grande’s and Miller’s failure to have paid off earlier mortgages.
The investigation revealed that initially, Marchese-DePeri-Grande was the owner of R.M.J. Title Agency, Freehold, and Miller was an employee there.
In the fall of 2004, Marchese-DePeri- Grande and Miller formed Spectrum Title Agency, Freehold, as co-owners. The investigation determined that after the victims obtained loans with the banks, the banks entered into agreements with R.M.J. and/or Spectrum regarding disbursement to the various escrow accounts for payments in accordance with the closing procedures set forth in the HUD-1 forms.
Instead of making the required disbursements, Marchese-DePeri-Grande and Miller failed to remit the deposited funds to the proper entity or individual and instead unlawfully transferred the funds from their escrow accounts into their own business accounts. Marchese-DePeri-Grande and Miller then used the stolen funds for personal expenses, according to the press release.
The personal expenses that the stolen funds were used to pay for included highend vehicles such as Ferraris, lavish homes and travel for Marchese-DePeri-Grande and Miller. The total amount of the theft is approximately $786,152. In addition, Marchese DePeri-Grande and Miller failed to file required documents with the county clerk’s office in connection with the refinanced mortgages.
Miller’s charges of bad checks and theft by deception relate to her issuance of checks on behalf of her clients that were returned for insufficient funds and her failure to pay the lease for Spectrum’s office space.
As title agents, Marchese-DePeri- Grande’s and Miller’s responsibilities included the preparation of closing statements, payment of mortgages and other liens, government charges, taxes and other expenses, disbursement of funds, and the preparation, execution and recordation of all necessary legal documents.
From November 2002 through March 2005, Marchese-DePeri-Grande and Miller failed to perform these duties with respect to 15 of their clients, according to the prosecutor’s office.
The New Jersey Department of Banking and Insurance opened a parallel investigation in 2005 which remains open. R.M.J. Title Agency and Spectrum Title Agency ceased doing business shortly after the customer complaints were made in 2005.
According to the New Jersey Department of Banking and Insurance, the license for R.M.J. Title Agency became inactive on Jan. 31, 2007, and Spectrum Title Agency’s license became inactive on April 30, 2008. Marchese-DePeri-Grande’s and Miller’s individual licenses became inactive on Oct. 3, 2005, and April 30, 2008, respectively.
If convicted of any of the second-degree crimes, the maximum potential custodial sentence is a state prison term of up to 10 years. If convicted of any of the third-degree crimes, the maximum potential custodial sentence is a state prison term of up to five years.
The maximum potential custodial sentence for a fourth-degree crime is a term of up to 18 months, according to the press release.