We use cookies on this site to enable your digital experience. By continuing to use this site, you are agreeing to our cookie policy. close

CEO On Trial In Biggest South Carolina Fraud Case

Law360 (January 18, 2007, 12:00 AM EST) -- The securities fraud trial of a former executive of a South Carolina mortgage lender got underway Wednesday, as prosecutors attempted to show that Ronald Sheppard was responsible for the biggest bankruptcy in state history.

Sheppard, who was chief executive of HomeGold Financial Inc., is charged with three counts of securities fraud in connection with the collapse of the company and its subsidiary, Carolina Investors Inc. Eight-thousand investors lost $275 million when Carolina Investors closed its doors in March 2003, a grand jury investigation revealed.

The bankruptcy...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.