County Bank

Home | Facebook | Twitter
GwdToday | Greenwood, SC
• Greenwood
• Lakelands & beyond
• School
• Sports
• Church News
• Featured Events
• Notices
• Promotions
• Classifieds
• Employment
• Yard Sales
• Add Product/Service
• Add Classifieds
• Restaurant Specials

Bayberry Inn Oct 2015
• Birthdays
• Weddings / Anniv / Engagements
• Reunions
Crime Network
• Arrest Reports
• SC Sex Offenders
• Obituaries

Cambridge Academy

home : news : greenwood July 26, 2017

Carolina Health

Piggly Wiggly Jan 2017

Staggs Defense HP

5/10/2016 8:06:00 PM
3 plead guilty in banking scam
Brian King
Staff Writer

Three men entered guilty pleas in federal court last week for their role in a scam that reportedly cost several local banks millions of dollars.
Kevin S. Dempsey, Henry A. Dorn and C. Jody Hazel were each indicted by a federal grand jury on one count of conspiracy to defraud a financial institution in November 2015. John D. Harrison Jr. was also indicted by the grand jury last November.
Dempsey, Dorn and Hazel all filed guilty pleas in federal court last week.
According to court documents, the three men each agreed to plead guilty to “count 1” on the indictment, though the exact charge to which they pleaded guilty is unclear. The three men will each pay an as of yet undetermined amount of restitution based on the amount of money each obtained fraudulently.
Hazel’s restitution amount is based on a range of $250,000 to $550,000. Dorn and Dempsey each have a range of $550,000 to $1.5 million.
The indictments contain specific allegations that Harrison “significantly understated his debt” and “significantly overstated his income” as part of a scheme that cost local banks, including CountyBank and Palmetto Bank, nearly $7 million.
According to the indictments, Harrison enlisted the help of Dorn, Dempsey and Hazel, in their roles as his accountants, to obtain loans for real estate development from local banks and private investors. Harrison would pay all interest on the loans and then pay the other three men 3 percent of the original loan amount when the property was developed and sold.
The indictment says the scheme began in 2000, or possibly earlier, and continued until 2013 when Dorn, Dempsey and Hazel were sanctioned by Department of Labor, Licensing and Regulation’s Board of Accountancy.
The sanctions called for the permanent revocation of the licenses held by Dorn and Dempsey. Hazel was given a six-month suspension and five-year probationary period where he must work directly for a licensed CPA in good standing. All three were also fined.

Health Related Home Care

Reader Comments

Posted: Sunday, March 26, 2017
Article comment by: Jim Butler

Why didn't these guys get 15 years in prison ? I heard they already bragging all they got to do is sit home drink beer saying hell I planned to do that anyways

Article Comment Submission Form
Please feel free to submit your comments.

Article comments are not posted immediately to the Web site. Each submission must be approved by the Web site editor, who may edit content for appropriateness. There may be a delay of 24-48 hours for any submission while the web site editor reviews and approves it.

Note: All information on this form is required. Your telephone number is for our use only, and will not be attached to your comment.
Submit an Article Comment
First Name:
Last Name:
Anti-SPAM Passcode Click here to see a new mix of characters.
This is an anti-SPAM device. It is not case sensitive.

Advanced Search

Greenwood Living
Home | Facebook | Twitter • 720 Montague Ave Suite 314 • Greenwood • SC • 29649 •
Software © 1998-2017 1up! Software, All Rights Reserved