Friday, April 16, 2010

Son of Regent Law School Dean Sentenced to 30 Years

I have touched on this story before along the long slow path of justice catching up with Troy Titus, son of the founding dean of Pat Robertson's Regent Law School who time and time again wore his supposed Christian faith on his sleeve in order to dupe clients and investors into trusting him with their money and assets. Authorities believe he stole at least 12 million dollars that victims will never see again and in the process turned many lives upside down. The moral in my view is that when someone constantly talks about religion in a business context, cover your wallet and run. Especially run from attorneys who talk about being Christian or belonging to "Christian" law firms. Sadly, too many people do not seem to get that message. NOTE: He attended BOTH Falwell's Liberty University and Robertson's Regent University. Here are highlights from the Virginian Pilot:
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Disbarred and disgraced attorney Troy A. Titus was sentenced Thursday to 30 years in federal prison for defrauding clients and friends out of more than $8 million, money a judge said the victims will never see again.
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The 44-year-old father of six wept as he tried to explain himself before U.S. District Judge Raymond A. Jackson and a courtroom filled with family and friends. O ther than blaming his swelled pride, Titus was at a loss.
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A federal jury in December convicted Titus of 33 felonies, finding that he had operated a Ponzi scheme that cost his victims around $8 million in losses. The government now says the total fraud amounted to nearly $12 million.*
Calling Titus "an economic sociopath," Assistant U.S. Attorney Michael Moore asked the judge to put Titus behind bars for the rest of his life. While the judge did not do that, Titus will be well past retirement age when he is released, unless he wins his appeal.
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Titus, whose father is a lawyer, came from an upper-middle-class, devout Christian family. He studied at Liberty University and the College of William and Mary, and received a law degree from Regent University.
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He owned a successful law practice for around 15 years and held real estate investment seminars across the country before the Virginia State Bar revoked his license in 2005 amid allegations of wide-spread fraud. The FBI began investigating, taking about three years to put together a massive case that led to a 49-count indictment. The jury convicted him on 33 of those counts.

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