Former HomeGold Chief Up for Parole, Despite Objections

SC Attorney General Alan Wilson said he will oppose the possible release of  ex-HomeGold CEO Ronald Sheppard, who is slated to ask state officials for parole next week.

J. Mark Powell, a spokesman for Attorney General Alan Wilson, said state prosecutors are sending a letter to the state Department of Probation, Parole and Pardon Services that outlines their objections, the Greenville News reported (subscription may be required). 

conspiracy, and obtaining property under false pretenses. He has served approximately five years of a 20-year sentence, according to the report.

HomeGold filed for bankruptcy in 2003 after the $275 million collapse of the parent company, and its Pickens-based subsidiary Carolina Investors. 

An estimated 12,000 people — most from the Upstate and many of them elderly — lost an estimated $278 million when Carolina Investors failed in 2003, according to the newspaper.

HomeGold Financial, Inc. is a specialty finance company primarily in the business of originating and selling conforming and sub-prime first- and second-lien home mortgages, and issuing notes payable and subordinated debentures to investors through Carolina Investors.

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