Industry News

Five South Carolinans accused of real estate fraud

Alleged ring charged with cheating lenders out of thousands

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Five people were indicted early this month in South Carolina on federal charges of conspiracy to commit fraud in connection with alleged schemes said to have defrauded two lenders out of $875,000, media reports said. Federal prosecutors in Charleston, S.C., charged five people with criminal fraud, including an attorney and the owner of a local real estate agency, accusing them of orchestrating home-buying schemes that defrauded two mortgage lenders, the Charleston, S.C., Post & Courier reported. Named in the lawsuit were North Charleston real estate attorney Jeffrey T. Spell; Anne Dodson, owner of Summerville-based Associated Realtors; Samantha Watford, vice president of AAA Mortgage and Direct Mortgage in West Ashley; Tom Cannon, a former loan originator for the two mortgage firms; and Ralph Miller, media accounts said. If convicted, the members of the alleged ring each face a maximum fine of $250,000 and up to five years in prison. This indictment centers on four real estate ...