COLUMBIA, S.C. (AP) - The South Carolina Supreme Court has ruled that several witnesses previously barred from testifying against a former HomeGold Financial Inc. executive may testify at his trial.
The court on Monday unanimously overruled a lower court's decision preventing four former Carolina Investors officials from testifying at the trial of former HomeGold chairman Jack Sterling.
Sterling's lawyer wanted to ban their testimony because an attorney representing the officials who testified before the grand jury had previously represented Sterling.
Sterling is charged with securities fraud and could face up to 25 years in prison if convicted. His trial has been delayed pending the Supreme Court's ruling.
More than 8,000 investors lost about $275 million when Carolina Investors and its parent company, HomeGold Financial, collapsed in 2003.
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