Surrogacy escrow company SEAM embroiled in multi-million dollar misappropriation scandal

  • 📰 FOX26Houston
  • ⏱ Reading Time:
  • 36 sec. here
  • 6 min. at publisher
  • 📊 Quality Score:
  • News: 32%
  • Publisher: 53%

Crime Publicsafety News

News,Us,Tx

SEAM, a prominent surrogacy escrow company, is facing accusations of embezzling millions of dollars from Intended Parents' escrow accounts to finance a luxury lifestyle.

In a shocking revelation that FOX 26 first reported on June 15,

's funds were wrongly used for Vgn Bae Music Group, Inc., a music studio started by Side and Hall in 2022, and Vgn Bae Properties, LLC, a real estate investment firm also founded by the duo. until 2017, and it appears to have received more than $750,000 of the Intended Parents escrow funds as a kickback based on the amount of escrow funds

, in January 2024, pledged $69,500 of escrow funds to Pearl Delta Funding, LLC in return for a cash lump sum of $48,250, which was deposited into ceased making these payments as of May 31, 2024, which led to a breach of contract. In the wake of the violation, Dynasty Capital took legal action against both

to Hall included any remaining components

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 448. in SG

Singapore Singapore Latest News, Singapore Singapore Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

‘Incredibly evil:’ Lawsuit alleges Houston company stole money from intended parents meant for surrogatesA surrogacy scheme is affecting people desperate to be parents across the United States and it’s all tied to Houston-based Surrogacy Escrow Account Management, LLC, or SEAM, which a Harris County lawsuit accuses of stealing more than $10 million.
Source: KPRC2 - 🏆 80. / 68 Read more »

‘It feels premeditated:’ More intended parents claim Texas company stole funds for surrogates, FBI seeks victimsA Houston-based company is accused of stealing millions of dollars from intended parents meant for surrogates and more alleged victims are coming forward claiming to be caught in the middle of the scheme.
Source: KPRC2 - 🏆 80. / 68 Read more »

Intended parents claim Texas company stole millions of dollars for surrogates, FBI seeking victimsA Houston-based company is accused of stealing millions of dollars from intended parents meant for surrogates and more alleged victims are coming forward claiming to be caught in the middle of the scheme.
Source: KPRC2 - 🏆 80. / 68 Read more »