A New Brighton insurance producer lost his license after he diverted about $25,000 from nine real estate deals in 2010, according to a recent order by the Minnesota Department of Commerce.
The investigation started after someone complained that James B. Crook , co-owner of Compass Title LLC in St. Anthony, stopped payment on a commission check. Crook allegedly claimed an employee embezzled the funds, but he later told investigators he had diverted the funds, records show. He also diverted company funds for personal use.
Crook was fined $10,000 and permanently barred from originating or servicing mortgages.
Jeffery A. Dobberpuhl , co-owner of the insurance agency, made good on the diverted funds, but the company’s license was revoked.