“Gaither Thompson was a relative babe in the woods responding tenderly to the entreaties of his sister

Thompson sentenced in Pineapple Bay mortgage fraud case - Today's News - TheSunNews.com:

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Linda Audino and Anthony Audino still are facing felony conspiracy to commit mail or wire fraud charges related to their purchases of Pineapple Bay condos. They have pled not guilty and their trials are scheduled for next month. Each faces a maximum prison sentence of 20 years and a $1 million fine.

Another defendant, Michael Sichitano, has agreed to plead guilty to a misdemeanor in the case and has not been sentenced. Sichitano had been facing a felony charge, but prosecutors agreed to the reduction this month.

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Ford Shelley – the developer of Pineapple Bay, located at 7001 Porcher Drive – pled guilty last year to one felony charge of conspiracy to commit mail or wire fraud. He is awaiting sentencing.

Shelley sold most of the condos he built to family members, friends and business associates, according to court documents. Thompson, for example, is Shelley’s brother-in-law and the other defendants had business relationships with Shelley. All of them purchased condos in 2006. Those condos wound up in foreclosure when no monthly payments were made.

Prosecutors say Shelley promised each of the buyers a cash kickback following their condo purchases. Those payments from Shelley were not disclosed on loan documents as required by law.

Reynolds Williams, a Florence lawyer representing Thompson, said in court documents filed last week that his client was not aware that Shelley was participating in a fraud scheme and had little knowledge of real estate and banking compared with other defendants in the case.