Scott Lemons, a real estate agent with Exit Realty Elite here, and Simpsonville real estate investor Kevin Robinson were indicted Thursday on three felony charges apiece of mail fraud related to sales of Ashley Park condominium units in the Carolina Forest subdivision, according to court documents filed in federal court.
Both men face maximum sentences of 20 years in prison and fines of up to $250,000 for each charge. An arraignment date has not been scheduled for either man.
According to the indictment, Lemons and Robinson used several of their companies to help Ashley Park buyers fraudulently obtain financing for their condo units in late 2007 and early 2008. Lemons falsely inflated the comparable values of units in the project by taking part in sham purchases from Ashley Park’s developer, who is not named in the indictment, according to court documents.
Lemons then obtained fraudulent appraisals that overstated the value of Ashley Park units, according to the indictment.
Lemons and Robinson then provided banks with loan applications that included false information about buyers’ employment and incomes and falsely stated that buyers had provided down payments for their units, according to court documents.
The indictment makes reference to three specific purchases at Ashley Park, all of them in January 2008. Horry County property records show a $325,000 purchase for unit A-3; $329,500 for unit E-3 and $326,500 for unit E-10. None of the buyers has been named as defendants in any criminal investigation.
All of the units referenced in the indictment went into foreclosure, according to county court records. Condos in the Ashley Park development have recently been selling for less than $60,000, according to statistics from the Coastal Carolinas Association of Realtors.
Ashley Park is located off Carolina Forest Boulevard near the Spring Lake subdivision.