Local News

Triangle businesswoman to plead guilty to fraud

Posted November 13, 2012

— Carolyn Grant, a well-known Triangle businesswoman who has run for Congress and Raleigh mayor, has agreed to plead guilty to fraud in a real estate investment scam, her attorney said Tuesday.

Grant will plead guilty to one count of mail fraud in federal court, but a date for the hearing hasn't been set, according to defense attorney Woody Webb Sr.

She is out of the country and couldn't be reached for comment.

Webb said Grant got caught up in the real estate boom six years ago and couldn't repay investors as the market collapsed at the start of the recession.

"Quite frankly, Carolyn Grant was caught between the proverbial rock and a hard place with her investors, and she made some profoundly bad decisions," Webb said in a statement. "Now, she is stepping forward and taking responsibility for her actions. She will accept her punishment from the federal court and will do everything in her power to fully reimburse her investors."

The mail fraud involved misrepresenting information about a real estate project on Louisburg Road in a June 2007 mailing to investors and potential investors, he said.

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 promised high returns, but many investors said they never got any money back and that they were misled about where their money was going, authorities said last year.

Webb said Grant has admitted that some of the money from investors has been misspent.

Grant surrendered her real estate license and the license to her Raleigh-based real estate investment company, Omega Property Group, a year ago.

57 Comments

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  • chattycat Nov 14, 2:18 p.m.

    It has been pretty well known that she has a shady side. Not at all surprised!

  • Mr. Middle of the Road Nov 14, 12:32 p.m.

    smokewagon, having a little trouble locating evidence anyone said 'character doesn't matter?" Its ok, I am patient. Still waiting to hear.

  • bubbba Nov 13, 7:29 p.m.

    When this is behind her (in whatever time period), I can assure you that you have not heard the last of her as a positive influence, contributor, leader, in this or some other community.
    gbear11
    November 13, 2012 3:22 p.m.
    Report abuse

    Yeah, in prison.

  • timmystrickland402 Nov 13, 6:25 p.m.

    I DON,T THINK SHE WILL DO ANY TIME AT ALL

  • GravyPig Nov 13, 5:11 p.m.

    "She took people's money, fraudulently, and should pay for it. Period."

    So it sounds like you and Sumo Vita agree. It appears the only one who isn't making any sense is you. Perhaps if you spent less time trying to bust on someone for their political leanings you might see what is being said instead of being blinded by your partisan anger.

  • Mr. Middle of the Road Nov 13, 5:00 p.m.

    smokewagon, when did someone say character doesn't matter? Be specific, don't just say you heard it on Rush.

  • Longshanks Nov 13, 4:29 p.m.

    Hey Sumo Vita, quit spouting your liberal leaning rhetoric, and stick to the subject. If you post something that makes any sense, maybe people will take what you say seriously. Otherwise, you're wasting our time.

    She took people's money, fraudulently, and should pay for it. Period.

    This opinion brought to you by an unaffiliated conservative. Imagine that...

  • hp277 Nov 13, 4:18 p.m.

    Give her a break - she's probably in the Caymans visiting the money she stole.

  • ncguy Nov 13, 4:17 p.m.

    she 's stepping forward?

    ya she is out of the country

  • changedmyname Nov 13, 3:49 p.m.

    For some there is never enough money.

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