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Town Hall: Aircraft escrow firms refuse more ‘undesirable’ clients
Mike Stones
Business aircraft escrow companies are turning away far more
“undesirable” prospective clients and detecting more attempted fraud, according to Corporate Jet Investor’s recent Town Hall online meeting on closing transactions.
Joan Roberts, Insured Aircraft Title Service vice president, told delegates:
“We have seen a lot more undesirable people trying to set up escrows with us and airplanes that we consider undesirable. We know they will come under investigation somewhere down the road.”
Roberts was unsure what sparked the increase in dubious escrow proposals. Factors accounting for the rise could include what she described as drug cartels having greater access to the US or recent high-profile indictments in the business aviation industry. ....

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