The owner of an Allentown title insurance company is charged with racketeering and theft of more than $1.26 million from clients, the Lehigh County District Attorney’s Office announced Friday.

Louis Belletieri, 42, of Allentown, is charged with three counts of corrupt organizations, a felony of the first degree; six counts of failure to make required disposition of funds and three counts of receiving stolen property, all felonies of the second degree.

Belletieri surrendered to authorities on Friday and was arraigned on all three cases. He was committed to Lehigh County Jail under $150,000 bail.

Belletieri was the sole proprietor of Legacy Title located at 2030 West Tilghman Street, Suite 203, in Allentown. He was the only employee with access to the Legacy Title escrow account and acted as title agent during each of the real estate transactions involved in the charges.

The victims to date include:

• A man reported that Belletieri diverted $496,141.25 from the proceeds of the sale of his home. On June 29, 2023, the home was sold and the title and settlement agent was Louis Belletieri of Legacy Title.

As part his obligation as title agent representing the victim in the sale, Belletieri was required to disperse $479,857 to satisfy a mortgage loan on the property as well as $8,196 to the Pennsylvania Department of Revenue to satisfy a lien on the property and $8,086 to a Water/Sewer Authority to satisfy an outstanding balance. Belletieri failed to make any of these payments, the District Attorney’s Office said.

• A married couple reported to police that Belletieri diverted $394,739 from the sale of their house. As part of his obligation as title agent representing the victims in the sale, Belletieri was required to disperse the money to satisfy a mortgage on the property and failed to do so, the District Attorney’s Office said.

• An executor of an estate reported to DA’s Office that Belletieri diverted $369,810 from the sale of her mother’s home. A check from the escrow account of Legacy Title payable to the estate in the amount of $223,859 was not honored when it was deposited because that escrow account had been closed and funds were not available.

As part of his obligation as title agent representing the victims, Belletieri was required to disperse $145,950 to a bank to satisfy the mortgage on the property and failed to do so, the District Attorney’s Office said.

To date, none of the money has been dispersed therefore it is alleged as a part of the investigation that Belletieri unlawfully took $1,260,691.47.

Legacy Title is no longer in operation. Anyone who believes they may have been victimized by Belletieri or Legacy Title should contact the District Attorney’s Office at 610-782-3100.