HomeGold Exec's 5-Year Fraud Sentence Will Stand

Law360, New York (February 29, 2012, 4:46 PM ET) -- The South Carolina Supreme Court on Wednesday affirmed the conviction and five-year sentence of a former HomeGold Financial Inc. executive for securities fraud connected to the mortgage company's bankruptcy, one of the biggest in the state's history.

The state's high court was unconvinced by former HomeGold chairman John Sterling's argument that unfairly prejudicial testimony had been allowed, and upheld what is now the sixth conviction of a former executive of the mortgage company.

Sterling said that emotional testimony from investors who lost nearly everything in HomeGold...
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