Ronald Sheppard, 49, former HomeGold chief executive, was sentenced to 20 years in prison for his role in defrauding 8,000 investors out of approximately $275 million dollars.
Sheppard was convicted of securities fraud, conspiracy and obtaining property by false pretenses after less than two hours of deliberation by the jury. He faced a maximum sentence of 25 years in prison and fines of over $100,000.
Sheppard is the fifth executive of HomeGold or HomeGold's subsidiary, Carolina Investors, to plead guilty or be convicted.
Sheppard still faces additional charges, including bank fraud and forgery. Those cases are pending.
Sheppard pled not guilty to those charges.
HomeGold's chairman, Jack Sterling, is awaiting trial on charges stemming from a grand jury indictment. He has pleaded not guilty.


Rachel Dollar, the editor of Mortgage Fraud Blog is an attorney and Certified Mortgage Banker who handles litigation for lending institutions and secondary market investors.