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Prosecution rests in Sterling trial
by Sandy Foster
Mar 04, 2009 | 701 views | 0 0 comments | 5 5 recommendations | email to a friend | print
LEXINGTON – The prosecution rested in the criminal trial of John “Jack” Sterling, a Greenville business man accused of securities fraud in connection with the collapse of Carolina Investors.

Last week, two former Carolina Investors board members Don Bobo and Dan Sharpe testified, as well as Larry Owen, former president of the Pickens-based company.

Sterling, 70, was indicted by a state grand jury on two counts of securities fraud and on count of conspiracy.

He was chairman of Homegold, Carolina Investor’s parent company.

About 12,000 people, mostly from the Upstate lost around $278 million when the company closed its doors in March 2003.

Sterling is expected to take the stand sometime this week in his defense.

He has pleaded not guilty to all charges.

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