Grant pleads guilty to mail fraud

Carolyn Grant arrives at court.

November 21, 2012 3:10:26 PM PST
Carolyn Grant - a former chairwoman of the Greater Raleigh Chamber of Commerce and candidate for mayor and Congress - entered a guilty plea Wednesday to one count of mail fraud in federal court.

Prosecutors said Grant defrauded investors out of millions of dollars in a real estate deal. She could face up to 20 years behind bars when she's sentenced in February, but the sentence will likely be lower - closer to 6-7 years.

She's also expected to be forced to pay restitution.

Prosecutors allege Grant borrowed money and then used it to pay other debts. In all, about 50 victims say they're owed money.

Grant's defense characterized her as a victim of the real estate market collapse.

Until she's sentenced, Grant will remain free and even be allowed to travel for work - including a trip to Haiti in December.

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