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Triangle businesswoman to plead guilty to fraud Wednesday

Posted November 21, 2012

— Carolyn Grant, a well-known Triangle businesswoman who has run unsuccessfully for Congress and Raleigh mayor, is expected to plead guilty to fraud Wednesday in a real estate investment scam.

Grant will plead guilty to one count of mail fraud in federal court, her defense attorney Woody Webb Sr. said. 

According to court documents, Grant lied to investors, telling them their money was used on real estate projects when in fact it was used for her personal and business expenses and to pay back investors. 

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 earlier this month. "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.

12 Comments

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  • foghat001 Nov 21, 2:37 p.m.

    A good LORD, did a democrat just try and paint republicans as crooks? Both parties are ripe with criminals, give me a break!

  • michaelclay Nov 21, 2:37 p.m.

    ifcdirector, there are criminals in all political partys and I think you would be hard pressed to find more in one party than the other.

  • ifcdirector Nov 21, 2:03 p.m.

    "A fine example of a Republican in action! "

    I hope you are trying to develop a sense of humor if you are ignoring the LEGIONS of democrat criminals in this nation both past and present.

  • Its the who what Nov 21, 10:52 a.m.

    Lock her up and let her repay people she deceived and stole from by doing hard labor. I am glad that this dangerous criminal will be off the street. And yes she is dangerous...any person that will look in your face and knowingly lie to you and steal your money will do ANYTHING to get what they want.

  • Mr. Middle of the Road Nov 21, 10:07 a.m.

    Regardless of her political beliefs, this is a human tragedy. Her victims suffer and her famuly suffers. Maybe she can repay all of the victims loss but I doubt it. Fear and greed strike again. Be careful what treasures you desire. You don't need the earthly goods.

  • Singlemalt Nov 21, 9:13 a.m.

    Politics and thievery go hand in hand, regardless of party afiliation. I am a conservative and I say lock her up.

  • hp277 Nov 21, 8:49 a.m.

    She's a thief. And a Republican. What a surprise.

  • welfarequeen Nov 21, 8:43 a.m.

    A fine example of a Republican in action! ( Fishy) Business before everything else.

  • Scubagirl Nov 21, 8:39 a.m.

    But I do agree that she is, at least, stepping up and taking responsibility for her bad actions and decisions.

  • westernwake1 Nov 21, 8:36 a.m.

    Nothing but a scam artist.

    Sadly she deserves several years in jail, but will probably just get a slap on the wrist and probation.

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