Missouri Attorney General Agreement NOT to Prosecute Docx LLC (LPS) and Assurance of Voluntary Compliance

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Missouri Attorney General Agreement NOT to Prosecute Docx, LLC (LPS) and Assurance of Voluntary Compliance

Missouri Attorney General Agreement NOT to Prosecute Docx, LLC (LPS) and Assurance of Voluntary Compliance

NOTE: This agreement was not out in the public.

Via JN

Under the agreement, LPS will pay the state of Missouri $2 million and will cooperate with the Attorney General’s Office in its continuing criminal investigation of founder and former president of DOCX, Lorraine Brown.

Specifically, LPS will pay $1.5 million into the Missouri state treasury and will pay $500,000 to the Merchandising Practices Revolving Fund of the Attorney General’s Office as reimbursement for the costs of the investigation.

DOCX earned approximately $363,000 in total revenue from the execution and filing of mortgage-related documents in the state of Missouri for the years 2008-2010. Consequently, LPS’s payment of $2 million to the state is well in excess of the revenue earned by the company in the state of Missouri during the relevant time period, and is approximately two and a half times the amount that could be obtained as a result of convictions on the previously pending indictments. LPS discontinued the operations of DOCX in May 2010. LPS terminated Lorraine Brown in November 2009.

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