NC businesswoman pleads guilty in investment scam

This is an archived article and the information in the article may be outdated. Please look at the time stamp on the story to see when it was last updated.

RALEIGH, N.C. — A Triangle-area businesswoman who ran unsuccessfully for Congress and mayor of Raleigh has pleaded guilty to mail fraud stemming from a real estate investment scam.

Attorney Woody Webb Sr. said the plea agreement signed by Carolyn Grant was to be filed in U.S. District Court in Raleigh on Tuesday.

Webb said the mail fraud involved misrepresenting information about a real estate project in a 2007 mailing to investors and potential investors

Authorities said Grant promised high returns, but many investors said they never got any money back and were misled about where their money was going.

Grant ran as a Democrat and lost the mayor’s race in 1999. She switched party affiliation, then lost to Democrat Brad Miller in a bitter 2002 race for the U.S. House of Representatives.

Credit: The Associated Press.

Notice: you are using an outdated browser. Microsoft does not recommend using IE as your default browser. Some features on this website, like video and images, might not work properly. For the best experience, please upgrade your browser.