Southeastern Massachusetts real estate broker held on bail, accused of embezzlement, larceny

Brockton – Plymouth County District Attorney Timothy Cruz announced that a seasoned Massachusetts real estate broker faced arraignment Friday in Brockton Superior Court over allegations tied to the sudden shutdown of his brokerage firm last year, which left more than $1 million in client escrow funds untraceable and roughly $500,000 in unpaid commissions for his agents.

Stephen Webster, 63, is accused of fiduciary embezzlement, larceny exceeding $1,200 through a single scheme, witness intimidation, and issuing a misleading financial statement. He was detained on $100,000 cash bail and subjected to release terms that bar international travel, require him to stay within the state during the proceedings, and mandate regular check-ins with probation officials. Prosecutors had pushed for a steeper $500,000 cash bail amount.

Webster long served as the lead broker and owner of Success! Real Estate, Inc., a southeastern Massachusetts staple that operated for decades before its unexpected collapse in December 2024. A detailed investigation spanning several months exposed a trail of financial improprieties from 2023 to 2024, pieced together from South Shore Bank and Rockland Trust documents, internal accounting records, and interviews with witnesses.

Authorities uncovered evidence that Webster diverted escrow holdings into his business and personal accounts, while fabricating financial records for oversight bodies—such as a counterfeit bank correspondence asserting his firm’s escrow balance topped $900,000, when it actually held just a few thousand dollars.

The firm’s out-of-the-blue closure caught employees off guard, many of whom were immersed in active deals where buyer deposits sat in escrow and commission payments loomed large. Delivered without prior notice or rationale, the decision stranded clients, agents, and business partners in uncertainty, fully illuminating the scope of the outstanding escrow liabilities.

After a meticulous preliminary probe into Webster’s purported wrongdoing, a nationwide arrest warrant was issued and added to federal databases. Collaboration among various Massachusetts police agencies, state troopers, and the Palm Beach County Sheriff’s Office in Florida culminated in his capture there on September 30th. Webster was extradited back to the state yesterday ahead of today’s court appearance.

He is slated to return to court on November 13th for a pre-trial hearing.