NC businesswoman pleads guilty in investment scam
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.