Failed Bank’s Former Chairman Claims Duped Into Loan

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MORTGAGE EXPERT
11 · 07 · 13

CONWAY, S.C. — A pair of expert witnesses testified Wednesday that Beach First National Bank and an appraiser it hired breached their professional standards during a 2007 transaction with state Sen. Ray Cleary, who is suing the bank for fraud related to a $3 million loan his Waterfall Investors 2 corporation received to help develop a 160-acre tract along S.C. 90 near North Myrtle Beach.

This wire news service story is no longer available.

However a copy might still be available at www.myrtlebeachonline.com

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Mortgage Daily Staff

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