Ex-Bank Execs Acquitted Of Straw Lending Fraud Scheme
By Jon Hill (February 6, 2019, 11:44 PM EST) -- A North Carolina federal jury on Tuesday acquitted a former community bank president and vice president accused of participating in a complex "straw lending" scheme connected to a multimillion-dollar payroll tax fraud, verdicts that follow a former account executive's dismissal from the case three weeks into the trial.
Ronald Earnest, the former president and founder of the South Carolina-based GrandSouth Bank, and Robert Taylor, a former GrandSouth VP, were found not guilty on conspiracy, bank fraud and a host of other charges brought by federal prosecutors in North Carolina's Middle District, where Bruce Gregory Harrison, the businessman at the center of...
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