Ex-Bank Execs Acquitted Of Straw Lending Fraud Scheme

Law360 (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...

Stay ahead of the curve

In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.


  • Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
  • Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
  • Create custom alerts for specific article and case topics and so much more!

TRY LAW360 FREE FOR SEVEN DAYS