Seven Falls founder Vinson faces prison in fraud scheme
U.S. District Court sentenced Buck Cashion, Chapman, Durham and Aaron Ollis for conspiracy to defraud. Vinson, lead developer, borrowed 25 million in 2006 to build Seven Falls on Etowah land, but the project stalled by 2008. Prosecutors allege straw loans, inflated lot prices, kickbacks, and a $4 million Queens Gap scheme to prop up the project.
MENTIONED IN THIS ARTICLE
Pisgah Community Bank
U.S. District Court
Martin Reidinger
Buck” Cashion
Lake Lake
Chapman
Brevard
Durham
Fletcher
Aaron Ollis
Arden
Cashion
Ollis
United States
Seven Falls
Vinson
National Bank of South Carolina
Etowah
Buck Cashion
Pleasant Grove Road
Plastics Plant
Waterford Lakes
Buck
Pisgah
Queens Gap
McDowell
Rutherford Counties
Bank of
Asheville
Tom Cooper
Keith
Cooper
Biltmore
Russ Burrell
Supreme Court
U.S. Army Corps of Engineers