Feds issue warrant for SC financer gone 4 years

MYRTLE BEACH, S.C. (AP) — A federal magistrate has issued a warrant for a man who disappeared four years ago after allegedly taking about $3 million in deposits for two planned North Myrtle Beach condominium projects.

The Sun News of Myrtle Beach reports (http://bit.ly/phhjSr) the warrant was issued for Duwayne Woods after a two-count indictment was returned against him in federal court.

The indictment accuses Woods of making illegal bank transfers of $4.5 million from Bahama Island condominium project deposits and almost $1 million from Crystal Palace condo deposits. Prosecutors say Woods sent some of the money to two developers who have pleaded guilty in the case but he pocketed about $3 million.

The deposits were from people who planned to buy condo units and the money was supposed to be kept in escrow.

___

Information from: The Sun News, http://www.thesunnews.com/