Ex-HomeGold executive loses appeal of sentence
Feb 7, 2011 12:06:00 PM - thestate.com
The former chief executive convicted in one of the largest bankruptcies in South Carolina history has lost his appeal for a new trial and less time in prison.
The state Supreme Court on Monday denied Ronald Sheppard's request for a reduction in his 20-year prison sentence.
In 2007, a Lexington County jury found the 53-year-old Sheppard guilty of securities fraud, conspiracy and obtaining property by false pretenses in the 2003 collapse of HomeGold and its subsidiary, Carolina Investors. More than 8,000 investors lost $275 million.
Sheppard's attorneys had argued that their client received a much harsher sentence that the rest of the company executives who either pleaded guilty or were convicted in the case. He will be eligible for parole in December.
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