A Massachusetts real estate broker who diverted millions of dollars in client escrow funds, falsified financial records, and left dozens of clients and agents financially devastated when his company abruptly shut down has been sentenced to state prison.
According to the Plymouth County District Attorney’s Office, in Plymouth Superior Court, 63-year-old Stephen Webster of Marshfield pleaded guilty to Embezzlement by a Fiduciary, Larceny Over $1,200 Pursuant to a Single Scheme, Witness Intimidation, and Publishing a False Financial Statement. Judge Daniel O’Shea sentenced Webster to serve two to three years in state prison, followed by five years of probation. As conditions of probation, Webster is prohibited from holding any position of fiduciary responsibility without prior court approval and must pay full restitution. The Commonwealth had recommended a sentence of six to eight years.
Webster was the longtime broker and principal of Success! Real Estate, Inc., a brokerage that operated for decades across southeastern Massachusetts before abruptly closing its doors in December 2024. A months-long investigation revealed that between 2023 and 2024, Webster routinely transferred approximately $11 million out of designated escrow accounts into his personal and business accounts. Those diverted funds were used to pay credit card debt, business loans, personal expenses — including $10,000 monthly rent — and gambling-related costs in Massachusetts and Florida…