Alderman Lived Lavish Lifestyle Using Other's Money - | Nashville News, Weather & Sports

NewsChannel 5 Investigates:

Alderman Lived Lavish Lifestyle Using Other's Money

Christopher Fosythe Christopher Fosythe

NASHVILLE, Tenn. - NewsChannel 5 Investigates first told you how a judge shut down Christopher Forsythe's title and escrow business last year. Investigative reporter Ben Hall has learned where some of the money went.

Court documents claim Christopher Fosythe took employees on extravagant retreats to places like the Atlantis Hotel in the Bahamas, bought a luxury boat and lived in a big home while charging fictitious fees at his Title and escrow business.

Forsythe's lifestyle left people like Michele Neal high and dry. Last year she told us she used Forstyhe's title and escrow business when she refinanced her home. 

"Who has my money that's why I want to know. Where is it?" said Neal.

She trusted the company with a check for more than $243,000 to pay off her first loan, but Forsythe failed to pay the loan leaving her with two mortgages.

"I want him to look me straight in the face and say 'this is what I did with your money' and I'm going to ask, why did you do that?" said Neal.

She may now have some answers. A final report from the Receiver investigating the missing money paints a picture of a company that was not even profitable. 

The report stated Forsythe paid himself nearly a million and a half dollars between 2003 and 2007. A total of nearly $2.5 million was missing from the company.

The scheme ended when checks from the escrow accounts started bouncing - checks that were supposed to pay real estate fees and other people's mortgages.

When Charles Brasewell and his wife tried to cash the profits from the sale of some property, the check from Forstyhe Title bounced.

"Somebody writes you a check, it's your money. It's supposed to be guaranteed money. Most people spend it," said Brasewell.

The receivers report indicates on the same day Forsythe transferred $75,000 to his personal account. He made a down payment on a luxury boat.

Forsythe has claimed it was bank errors that led to his business problems. His attorney did not return a phone call to NewsChannel5.

At this point no criminal charges have been filed.

We're told everyone who lost money has been reimbursed. The insurance company that worked with Christopher Forsythe's business has paid the claims.

Back to NewsChannel 5 Investigates

Powered by WorldNow
Powered by WorldNow
All content © Copyright 2000 - 2014 NewsChannel 5 (WTVF-TV) and WorldNow. All Rights Reserved.
For more information on this site, please read our Privacy Policy and Terms of Service.