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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.

USA, South Carolina: (Latest Stories)