SC High Court Affirms Mortgage Co. Exec's Fraud Sentence

Law360, New York (April 6, 2012, 9:43 PM EDT) -- The South Carolina Supreme Court has upheld a securities fraud conviction and five-year prison sentence for a former mortgage company executive involved in one of the biggest bankruptcies in state history, according to news reports Friday.

HomeGold Financial Inc. Chairman John “Jack” Sterling Jr. had argued prosecutors didn't prove their case and contended the trial judge in the case allowed irrelevant and prejudicial testimony from investors who lost millions of dollars in HomeGold subsidiary Carolina Investors' 2003 collapse. But the South Carolina Supreme Court rejected Sterling's...
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