20-Year Fraud Sentence Upheld For HomeGold CEO

Law360, New York (February 7, 2011, 4:29 PM EST) -- The South Carolina Supreme Court on Monday upheld former HomeGold Financial Inc. CEO Ronald Sheppard's 20-year securities fraud sentence for his role in the largest bankruptcy in the state's history.

The court rejected Sheppard's arguments that his conviction should be vacated because he received a stricter sentence than his co-conspirators and that the judge improperly handled an instance where a spectator spoke with a juror.

Sheppard was convicted of securities fraud, conspiracy and obtaining property by false pretenses in 2007 in connection with the 2003 collapse...
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