Former real estate salesman Kevin Mayberry will spend one day in prison after pleading guilty to one felony charge of conspiring to defraud the United States by failing to report a payment he received during a real estate transaction.
Judge Bryan Harwell handed down the sentence this week during a hearing in federal court in Florence.
Mayberry also will spend the next three years under supervised release, including the first six month at a residential re-entry center. Once he leaves the center, Mayberry will be on another six months of home confinement with electronic monitoring. He also has been ordered to pay restitution of $505,924 to PNC Bank – the amount of money the bank lost on the fraudulent transaction. Mayberry must start paying restitution at the rate of $500 per month beginning 30 days after his prison release. At that rate, it would take more than 84 years to pay back the full amount the bank lost.
Mayberry pleaded guilty to failing to report on real estate closing documents a $100,000 payment he received from a real estate transaction.
Contact DAVID WREN at 626-0281.