Sterling wants parole in Carolina Investors case - WCIV-TV | ABC News 4 - Charleston News, Sports, Weather

Sterling wants parole in Carolina Investors case

Posted: Updated:

COLUMBIA, S.C. (AP) -- The former chairman of Carolina Investors is seeking parole.

Jack Sterling is scheduled to appear Wednesday before the South Carolina Parole and Pardons Board. The 75-year-old executive started serving his five-year sentence for securities fraud last April.

Sterling was convicted in 2009 of his role in the collapse of Carolina Investors. Sterling was chairman of HomeGold Financial Inc., the parent company of Carolina Investors. Six executives of the two companies were convicted after the firms went under.

About 12,000 people lost $275 million in the companies' 2003 collapse, one of the biggest bankruptcies in state history.

Sterling remained free on bail for about three years while he appealed his conviction.

The Correction Department says Sterling is set to be released in September 2014 if he behaves behind bars.

  • High Profile CasesMore>>

Powered by WorldNow

ABCNews4 WCIV-TV

888 Allbritton Dr.
Mt. Pleasant, SC 29464
843-881-4444 | Advertising Information

Public Information File

For assistance with accessing WCIV-TV's public information file, click here.

Advertising

Advertising Credit Application and Terms and Conditions PDF.

Powered by WorldNow
All content Copyright © 2014 WCIV and Worldnow. All Rights Reserved.
For more information on this site, please read our Privacy Policy and Terms of Service.