Vacation rental company owner deposited rent checks into his personal account, police say

Vacation rental company owner deposited rent checks into his personal account, police say
Police arrested Walter Pigg July 1 for eight charges of breach of trust with fraudulent intent. Pigg operated Keye Beach Rentals in North Myrtle Beach. (Source: J Reuben Long Detention Center)

NORTH MYRTLE BEACH, SC (WMBF) - Police arrested the owner of Keye Beach Rentals on Monday for eight charges of breach of trust with fraudulent intent.

Arrest warrants reveal Walter Pigg owes close to $25,000 in rent to six owners.

North Myrtle Beach police began investigating Pigg earlier this year when numerous owners filed police reports with the department.

In March, WMBF Investigates uncovered dozens of police reports where owners claimed to be owed more than $50,000. Some condo owners at Ocean Keyes in North Myrtle Beach told WMBF they were owed money from last summer.

The police department’s investigation found that Pigg deposited renters’ checks into multiple bank accounts, including his personal account.

Officers found one of those bank accounts had money withdrawn at The Big “M” Casino and Harrah’s Casino.

Pigg was previously arrested on June 7 for breach of trust with fraudulent intent of more than $10,000. Pigg posted a $10,000 bond and has a hearing scheduled for July 12, according to Horry County court records.

Monday’s arrest warrants state Pigg is a “suspect in numerous other cases of a similar nature involving his role in unpaid rental proceeds to property owners.”

The North Myrtle Beach Police Department would not comment on the case because it is still active.

The South Carolina Department of Labor, Licensing and Regulations suspended Pigg’s real estate license on December 31, 2018.

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