A Massachusetts real estate broker was arraigned on Friday on charges stemming from the abrupt closure of his firm, which left more than $1 million in client escrow funds unaccounted for and about $500,000 in unpaid commissions owed to company agents.
Stephen Webster, 63, is charged with fiduciary embezzlement, larceny over $1,200 by single scheme, witness intimidation and publishing a false financial statement, Plymouth County District Attorney Timothy J. Cruz’s office said in a statement.
Webster was held on $100,000 cash bail and placed on conditions of release which include relinquishing all travel documents, remaining in Massachusetts during the pendency of this case and meeting with probation services on a regular basis. The Commonwealth requested that Webster be held on a $500,000