Former Exec Sentenced To 20 Years For Fraud

Law360, New York (February 7, 2007, 12:00 AM EST) -- The former head of a collapsed mortgage lending company was sentenced to 20 years Wednesday for securities fraud and other charges related to the company’s downfall, which became the largest bankruptcy in South Carolina history.

Ronald Sheppard, the former chief executive of HomeGold Financial Inc., faced up to 25 years after being convicted of securities fraud, conspiracy and obtaining property by false pretenses.

South Carolina State Attorney General Henry McMaster told the Associated Press Wednesday that he hoped the prison term "gives a small comfort" to...
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