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Source: The Daily News, Jacksonville, N.存倉C.Sept. 03--Victims of an alleged real estate scam involving residential developments in Onslow and Carteret counties will get some of their money back.N.C. Attorney General Roy Cooper announced Tuesday consumers who bought overvalued lots at Cannonsgate at Bogue Sound in Carteret County or Summerhouse at Everett Bay in Onslow County as part of the scheme may be eligible to receive a refund on some of their investment.Defendants in the alleged real estate scheme will pay $2.28 million in restitution under a consent judgment approved Friday by Wake County Superior Court Judge Howard Manning.The Attorney General's office, the plaintiff in the case, has alleged misleading practices by the developers and marketers behind the two real estate developments."While many real estate opportunities are legitimate and live up to their promises, some take advantage of buyers," Cooper said via a news release on the settlement. "Beware of sales pitches that lead you to believe you're getting a special deal and will be able to make a quick profit."In the case of Cannonsgate and Summerhouse, the Attorney General's office alleges some sales agents marketed lots as good investments and gave the consumer the impression that they could re-sell the lots quickly for a profit.The case dates back to 2005 and 2006 before the collapse of the real estate market.Sales agents also sometimes unfairly led buyers to believe that it was urgent that they buy immediately or the lots would be unavailable. There were also lots advertised at "developer pricing," giving the impression of a discount, the news release said.It is also alleged that agents were involved in "flip" transactions where other sales agents simultaneously bought lots and re-sold them for a substantial profit, using funds to pay for the initial purchase.The defendants in the case include Randolph "Randy" M. Allen, William Garith "Gary" Allen, R.A. North Development Inc., R.A. North Development I, L.L.C, Southeastern Waterfront Marketing, Inc., R. Douglas Therrell, Kenneth Bednar, and Michael Woolard.R.A. North of Charlotte was the developer for Cannonsgate and R.A. North I was the developer for Summerhouse. Randy Allen managed and controlled the operations of both R.A. North and R.A. North I. Southeastern, managed by Gary Allen of Florida, marketed and sold lots in both locations. Kenneth Bednar of Nevada and Michael Woolard of North Carolina participated in sales operations at Cannonsgate and Summerhouse.Bednar purchased a lot in Cannonsgate, as did R. Douglas Therrell of North Carolina.According to the consent judgment, the defendants deny the state's allegations but "desire to resolve this controve迷你倉sy without further proceedings and agree to the entry of the consent judgment."They also deny any violations of law or wrongdoing in connection with the development, marketing and sale of residential lots in Cannonsgate and Summerhouse.Noelle Talley, spokeswoman for the Department of Justice, said they don't yet know how many consumers may end up receiving refunds.She said the Consumer Protection Division plans to send out approximately 1,100 potentially eligible consumers who purchased property in the two developments to encourage them to file a claim. The letters will outline the eligibility criteria.To be eligible for a refund, a consumer must:Have purchased a lot in Cannonsgate or Summerhouse from or through one of the defendants or their agents;Be the current owner of that lot or have been the owner at the time of foreclosure, deed in lieu of foreclosure, or some other distressed sale;Not be an owner, shareholder, member, manager, employee, agent for or a relative of any of the defendants;Not have received a discount on the purchase price of the lot. "Discount" is defined as any amount that was deducted from the purchase price on the HUD-1 Closing Statement. It does not refer to any amount of money received at closing or outside of closing to assist in making monthly mortgage payments for a period of time; andBe able to submit a signed copy of the HUD-1Closing Statement from purchasing the property.Anyone with questions may contact the Consumer Protection Division at 1-877-5-NO-SCAM toll free within North Carolina. Or call 919-716-6000.In addition to paying refunds, the defendants are required to follow practices so as not to mislead future buyers about the value or investment potential of lots offered for sale in North Carolina.The Cannonsgate development has also been at the center of other controversy.In the middle of the last decade, Cannonsgate got caught up in a corruption investigation of former Gov. Mike Easley, N.C.-D, and colleagues. In 2005, Easley bought a lot in the development at a discount.In 2010, former Easley aide Ruffin Poole was indicted on more than 50 federal counts, including extortion, bribery and money laundering over accusations he benefited financially while helping expedite coastal developments.The indictment accused Poole of profiting from developments, including Cannonsgate, that had been approved by state regulators.The StarNews contributed to this report.Contact Daily News reporter Jannette Pippin at 910-382-2557 or jannette.pippin@jdnews.com. Visit JDNews.com to comment.Copyright: ___ (c)2013 The Daily News (Jacksonville, N.C.) Visit The Daily News (Jacksonville, N.C.) at .jdnews.com Distributed by MCT Information Services自存倉