Property owners sue North Myrtle Beach rental company following owner’s arrest

Property owners sue North Myrtle Beach rental company following owner’s arrest
Keye Beach Rentals

NORTH MYRTLE BEACH, S.C. (WMBF) – A lawsuit has been filed against a North Myrtle Beach rental company after its owner was arrested and accused of taking thousands of dollars from property owners.

A complaint was filed on Tuesday against Keye Real Estate, the owner and operator of the company, the broker-in-charge and the property manager-in-charge.

Back in May 2018, Keye Real Estate was sold to Walter Pigg, who was arrested in June after investigators said he owed close to $25,000 in rent to six owners.

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.
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 started investigating Pigg earlier in the year when numerous owners filed police reports with the department. WMBF Investigates uncovered dozens of police reporters where owners claimed to be owed more than $50,000.

A police investigation found Pigg deposited renters’ checks into multiple bank accounts, including his personal account.

PAST COVERAGE:

The new lawsuit claims that before the real estate company was sold to Pigg, he was involved in numerous civil lawsuits and there were complaints made against his business practices.

The plaintiffs claim that the defendants were aware of Pigg’s history and shouldn’t have sold the company to him.

“Defendants knew or should have known that Mr. Pigg had an unscrupulous history and was financially unfit to purchase and manage Defendant Keye RE,” the lawsuit states.

The complaint goes on to state that the defendants had to a duty to properly review Pigg’s “financial stability, financial history, reputation, civil and criminal claims history, insurance policies, business entities and competency prior to assigning their clients’ Rental Agreements and transferring their clients’ trust accounts to Mr. Pigg upon the sale.”

The plaintiffs are seeking damages and are requesting a jury trial in the case.

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