SC parole board won't release ex-HomeGold exec - FOX Carolina 21

SC parole board won't release ex-HomeGold exec

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Ex-HomeGold CEO Ronnie Sheppard (right) leaves an Upstate courthouse with an unknown man. (File/FOX Carolina) Ex-HomeGold CEO Ronnie Sheppard (right) leaves an Upstate courthouse with an unknown man. (File/FOX Carolina)
COLUMBIA, SC (AP) -

South Carolina's parole board has denied former HomeGold executive Ronnie Sheppard's appeal for an early release from prison. 

The panel voted 6-1 Wednesday to reject the request. 

The board's decision in December to grant parole was revoked after Attorney General Alan Wilson's office complained it wasn't notified in time to contest the release. 

Sheppard has served four years of a 20-year sentence for securities fraud, conspiracy and obtaining property under false pretenses for his role in the 2003 collapse of HomeGold and its subsidiary Carolina Investors. 

More than 8,000 investors lost $275 million in one of the biggest bankruptcies in state history. 

The head of the Department of Probation, Parole and Pardon Services said they made a mistake by not informing the attorney general's office, which handled Sheppard's prosecution.

Copyright 2012 The Associated Press. All rights reserved.

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