Mortgage Exec Presses SC High Court For Acquittal

Law360, New York (October 4, 2011, 8:37 PM EDT) -- A former mortgage executive involved in one of the biggest bankruptcies in South Carolina history asked the state Supreme Court on Tuesday to overturn his securities fraud conviction and five-year prison sentence.

HomeGold Financial Inc. Chairman Jack Sterling said the state failed to prove its case and that the trial judge erred and allowed irrelevant and unduly prejudicial testimony of investors who lost millions when HomeGold subsidiary Carolina Investors closed in 2003. That collapse left 8,000 investors with a combined loss of about $275 million....
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