Ex-officer of San Antonio area title company embezzled $367,309

A former chief financial officer of a local real estate title company admitted Wednesday that he embezzled $367,309 and will be sentenced this fall.

Joseph P. Karpowicz, 47, who was CFO of Presidio Title from October 2006 until August 2013, reached a plea deal with the government earlier this month. Instead of getting indicted, he pleaded guilty in federal court Wednesday to mail fraud and money laundering, admitting that the illegal conduct occurred between April 2010 until June 2013.

Among the items he bought with the stolen money was a 2012 Nissan Frontier, which he bought with a check for $27,594, court records show.

“He feels bad about it and is doing what he can,” his lawyer, Stephen Foster, said afterward. “He’s taking responsibility so he can move on with his life.”

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