FOR IMMEDIATE RELEASE:
WEDNESDAY - January 19, 2011
SMITHFIELD MANUFACTURED HOME DEALERSHIP
PRESIDENT SENTENCED IN FEDERAL COURT
RALEIGH - United States Attorney George E.B. Holding announced that in federal court today United States District Judge Terrence W. Boyle sentenced HAROLD AUBREY OVERBY, 44, of Goldsboro, North Carolina, to five years’ probation with six months of home confinement as well as $98,355 in restitution.
A Superseding Criminal Information was filed on July 22, 2010. On July 28, 2010, OVERBY pled guilty to conspiring to commit mail, wire, and bank fraud, in violation of Title 18, United States Code, Section 371.
According to the Information, OVERBY, president of HALO of North Carolina, Inc., and doing business as Hunter Creek Homes, a manufactured home dealership located in Smithfield, North Carolina, entered into an agreement to defraud Southern Bank and Trust. From January, 2004, to November, 2006, OVERBY, needing capital to avoid bankruptcy, caused cash disbursements from SBT by supplying false and fraudulent statements and information in relation to his customers’ construction loans. Additionally, OVERBY made fraudulent statements concerning his income, debt, and collateral, to obtain three other loans from SBT. All of these loans went into default, ultimately resulting in losses to SBT in excess of $300,000.
This case was investigated and prosecuted by this office’s Mortgage Fraud Task Force, a group of federal and state law enforcement agencies whose goal is to fast-track mortgage fraud prosecutions in this District. The investigation of this particular case was conducted by the North Carolina State Bureau of Investigation and the Federal Bureau of Investigation. Assistant United States Attorney William Gilmore represented the government.
News releases are available on the U. S. Attorney’s web page at www.usdoj.gov/usao/nce within 48 hours of release.