N Augusta man charged in $360K fraud case

COLUMBIA, S.C. (AP) — A North Augusta man has been charged with selling hundreds of thousands of dollars in of shares in a corporation but using the money for himself.

Attorney General Alan Wilson says David H. Thompson was arrested last week and charged with two counts of breach of trust and one count of forgery.

Wilson says Thompson sold membership interests totaling at least $360,000 in a corporation called Mossy Development, LLC. Wilson says the money was supposed to be used to develop a North Augusta subdivision called Mossy Oak. But the prosecutor says Thompson used the money for himself.

It wasn’t immediately known if Thompson has an attorney.

As South Carolina Securities Commissioner, Wilson has ordered Thompson to pay a $10,000 fine.