{"id":12537,"date":"2015-06-04T11:20:17","date_gmt":"2015-06-04T18:20:17","guid":{"rendered":"https:\/\/cjnotebook.com\/?p=12537"},"modified":"2015-06-04T11:20:17","modified_gmt":"2015-06-04T18:20:17","slug":"defendants-sentenced-for-a-scheme-involving-luxury-houses-and-golf-course","status":"publish","type":"post","link":"https:\/\/cjnotebook.com\/?p=12537","title":{"rendered":"Defendants Sentenced For a Scheme Involving Luxury Houses and Golf Course"},"content":{"rendered":"

ASHEVILLE, N.C.<\/strong><\/p>\n

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\"U.S.<\/a>A federal court judge this week sentenced five of eleven defendants charged in connection with a scheme involving the development of Seven Falls<\/strong>, a golf course and luxury homes in Henderson County, officials said.<\/p>\n

The defendants got together to hoodwink several banks through a series of straw borrower transactions so they could funnel this money to Keith Vinson<\/strong> and his failing development of Seven Falls, officials stated.<\/p>\n

A straw borrower is a person whose name appears as the beneficiary of the loan. But his name is substituted for the true borrow and doesn’t get the loan, officials stated.<\/p>\n

This deprives banks and other financial institutions from properly assessing the risk of making such loans as they don’t know the true creditworthiness of the true borrower.<\/p>\n

Officials stated that the co-conspirators devised this scheme in order to funnel monies to Vinson and his failing development of Seven Falls.<\/p>\n

U.S. District Judge Martin Reidinger sentenced the following defendants:<\/strong><\/p>\n