“Over the course of 2024, the defendant diverted more than $11.6 million in escrow: deposits-funds that, under Massachusetts law, were to remain segregated and preserved for the benefit of buyers and sellers-into business operating accounts and his personal account,” he wrote in a summary of the evidence collected against Webster.
“These funds covered payments on merchant cash advances, bank loans, credit cards, auto and motorsports financing, gambling expenditures, travel, dining, and family transfers,” he wrote.
Webster’s alleged misuse of funds forced some customers to cut their sale prices in order to cover the missing funds, led to checks bouncing for other clients, prosecutors said.
Webster is currently being held at the Palm Beach County Jail following his arrest Sept. 29 as a fugitive from justice. He is fighting his forced return to Massachusetts and is expected to appear in a Florida courthouse next Tuesday, prosecutors said.
An attorney for Webster could not be located Thursday.
According to Zane’s 26-page filing, Webster spent multiple days at the Encore Boston Harbor casino in Everett and was a frequent customer of other casinos, including one in Florida where he was living in an $8,250 a month apartment.
During his casino visits during 2024, Webster allegedly withdrew $88,850 from casino ATMs, according to court records.
Among the other purchases Webster made – allegedly with other people’s money – was an $11,000 deposit on a 2025 BMW 430i priced at $70,000 when he already owned two Tesla Model 3s valued at $121,000, the prosecutor wrote.
Webster abruptly shuttered his real estate firm last December, leaving his employees, brokers and clients who had pending real estate transactions in the lurch, according to court records.
Websters alleged financial misdeeds has unleashed a torrent of civil litigation against him as well as an effort by his ex-wife to enforce the terms of their divorce, which call for her to be paid $3,000 a month in alimony for the rest of her life and $10,000 a month for upkeep of her South Shore home, records show.
Webster owed brokers who worked with him hundreds of thousands of dollars for unpaid commissions and to repay them for loans they provided to him, records show. Their losses are not part of the criminal case, prosecutors wrote in court papers.
According to court records, Webster has been ordered to repay at least $1.2 million in six civil lawsuits, but that number is expected to increase in coming months.
The second set of charges stem from Webster’s apparently successful effort to convince state investigators that he was operating his business ethically and within state guidelines for a real estate broker, authorities said.
Webster’s frequent withdrawals from escrow accounts and his high level of spending caught the attention of his brother, employees and other business contacts, prosecutors wrote.
In 2023, the Division of Occupational Licensure notified Webster that they would be auditing Success! Real Estate’s escrow accounts, prosecutors said.
When he met with an investigator, Webster allegedly provided a letter signed by a bank official confirming that he had $1 million in the escrow account when in fact he only had around $7,000. The letter was bogus and had been created by Webster, prosecutors allege.
When he is returned to Massachusetts, Plymouth County District Attorney Timothy J. Cruz’s office wants bail set at $100,000 cash.
“Even after the company’s collapse in December 2024, the defendant continued making payments on luxury vehicles, jet skis, a boat, and personal credit cards rather than directing resources toward curing escrow shortfalls,” prosecutors wrote.