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The following is an archived video story. The text content of that video story is available below for reference. The original video has been deleted and is no longer available.

Spruce Pine Land Scam

A man from Spruce Pine pleads guilty in one of the largest fraud cases in North Carolina history.

Randy Carpenter pleaded guilty in U.S. District Court in Charlotte to two counts of making false statements on tax returns in 2005 and 2007. It's in connection with a $100 million real estate development Ponzi scheme involving the Village of Penland in Mitchell County. Carpenter was the engineer and surveyor of the project.

An indictment says he received $2 million in fees, but didn't report all the earnings on his tax returns.


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