Local News

Embattled Triangle businesswoman surrenders real estate license

Posted November 23, 2011 1:45 p.m. EST
Updated November 23, 2011 2:24 p.m. EST

— A well-known Triangle businesswoman who has run for Congress and Raleigh mayor turned in her real estate license amid a state investigation into whether she defrauded investors, according to the state Real Estate Commission.

Carolyn Grant also gave up the license to her Raleigh-based real estate investment company Omega Property Group.

The North Carolina Secretary of State's Office issued a cease and desist order against Grant in August 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 allegedly promised high returns, but many investors say they never got any money back and that they were misled about where their money was going.

The Real Estate Commission is also looking into consumer complaints against her and Omega Property Group.

Grant's lawyer said she never violated any statutes or rules but that she surrendered her licenses to resolve the commission's investigation.