Sentencing set for former Raleigh political candidate
Posted March 1, 2013
Raleigh, N.C. — A former Raleigh political candidate and businesswoman who pleaded guilty last year in connection with a real-estate investment scam will be sentenced March 20, according to court documents.
The sentencing hearing for Carolyn Grant, who pleaded guilty in November to a felony count of mail fraud in the scam, was originally set for Feb. 18. She could face up to 20 years in prison, although prosecutors said she will likely receive a sentence of six to seven years.
According to court documents, Grant lied to investors, telling them their money was used on real estate projects when it was used for her personal and business expenses and to pay back investors.
The North Carolina Secretary of State's Office issued a cease and desist order against Grant in August 2011 after allegations surfaced that she failed to repay millions of dollars she borrowed from friends and associates for real estate deals and personal loans.
Grant surrendered her real estate license and the license to her Raleigh-based real estate investment company, Omega Property Group, in 2011. She ran unsuccessfully for Raleigh mayor in 1999 and Congress in 2002.