Former Raleigh mayoral candidate sentenced

Carolyn Grant leaves court
May 3, 2013 11:50:08 AM PDT
A Triangle-area businesswoman who ran unsuccessfully for Congress and mayor of Raleigh accused of bilking dozens of people out of millions of dollars learned her punishment Friday.

Carolyn Grant was sentenced to 78 months in jail and three years supervised release on federal mail fraud charges stemming from a real estate investment scam that cost victims millions. She must also pay restitution.

Grant pleaded guilty last year after prosecutors said she defrauded upwards of 50 people.

Authorities said Grant promised high returns on a real estate project in 2007, but many investors said they never got any money back and were misled about where their money was going.

Grant ran as a Democrat and lost the mayor's race in 1999. She switched party affiliation, then lost to Democrat Brad Miller in a bitter 2002 race for the U.S. House of Representatives.

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