Grand Jury Indicts Suspect In Real Estate Scheme
Posted August 19, 2005 7:01 a.m. EDT
RALEIGH, N.C. — A man charged with fraud in connection with his two companies was indicted by a grand jury Friday.
Prosecutors say Jim Davis orchestrated an elaborate real estate scheme that involved investors, renters, homebuilders, buyers and sellers.
If convicted, Davis could face up to 20 years in prison.