Courtesy United Stated Attorney Bill Nettles:
Columbia, South Carolina ---- United States Attorney Bill Nettles stated that
Stancil Ford Shelley, Jr., age 47, of Myrtle Beach, pled guilty today in
federal court in Florence to Mail Fraud, a violation of Title 18, United States
Code, Sections 1341 & 2. United States District Court Judge Robert Bryan
Harwell accepted the plea and will impose sentence after he has reviewed the
presentence report which will be prepared by the U.S. Probation Office.
Testimony presented at the guilty plea hearing established that Mr. Shelley had
developed a condominium project known as Pineapple Bay. Mr. Shelley then
arranged for the units to be purchased by various individuals. Mr. Shelley made
promises that he would compensate the buyers for their purchases. The promises
were not made known to the lender which funded the mortgages for the purchases
of the condominiums. Mr. Shelley knew that the lender was unaware of the
compensation and signed closing documents which neglected to mention the
compensation. These documents were mailed to the lender to complete the
closings. Mr. Shelley later made payments to the buyers.
Mr. Nettles stated the maximum penalty Skinner can receive is a fine of
$250,000 and/or imprisonment for 20 years, plus a special assessment of $100.
The case was investigated by agents of the Federal Bureau of Investigation.
Assistant United States Attorney John C. Potterfield of the Columbia office
handled the case.
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