Former Boston broker arraigned on embezzlement, larceny charges

"The firm's sudden closure, delivered without warning, blindsided employees, many of whom were actively engaged in pending real estate transactions where Success was holding buyer deposits in escrow and owed substantial commission checks, a statement from the district attorney's office reads. The timing of the closure, delivered without explanation, left clients, agents and counterparties in limbo and exposed the extent of the company's unresolved escrow obligations."

"The sudden closure of the firm triggered a months-long investigation, during which the DA's office uncovered records, accounting ledgers and witness interviews from South Shore Bank and Rockland Trust, which the authorities claim show Webster engaging in a pattern of systematic financial misconduct between 2023 and when the firm shut in December 2024. At the close of this investigation, a warrant for Webster's arrest was issued."

"He was ultimately arrested on Sept. 30, 2025 in Palm Beach County, Florida, but was brought back to Massachusetts for his arraignment last week. He was held on $100,000 cash bail and will only be released if he relinquishes all travel documents, remains in Massachusetts while the case is in progress, and meets with probation services on a regular basis. The state had requested a $500,000 cash bail."

Webster's firm abruptly shut in December 2024, leaving more than $1 million in a client escrow fund unaccounted for and roughly $500,000 in unpaid commissions to agents. Employees and clients were blindsided while many transactions were active and buyer deposits remained in escrow. A months-long investigation by the district attorney's office reviewed bank records, accounting ledgers and witness interviews, alleging a pattern of systematic financial misconduct between 2023 and the firm's closure. A warrant was issued, leading to Webster's arrest on Sept. 30, 2025 in Florida and his return to Massachusetts for arraignment. He remains held on $100,000 cash bail with travel and supervision conditions; the state had sought $500,000. A pre-trial conference is scheduled for Nov. 13, 2025.

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