Feds charge NC man in $82 million fraud scheme
CHARLOTTE, N.C. (AP) – Federal agents are accusing a disbarred
North Carolina lawyer of defrauding banks and investors out of more
than $82 million in improper loans tied to a mountain real estate
Randy Alan Carpenter of Spruce Pine was arrested Friday and
charged with seven felony counts of conspiracy, bank fraud and
making false statements on tax returns.
Prosecutors say the 54-year-old and others conspired to provide
banks with false information to secure mortgages for a real estate
development called the Village of Penland. Between 2001 and 2007,
Carpenter’s legal clients closed more than 300 residential real
estate loans secured by Penland lots valued at $108 million.
Reached at his home, Carpenter declined to comment.
If convicted, he faces up to 38 years in prison and $1.3 million
(Copyright 2012 by The Associated Press. All Rights Reserved.)
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