(Southaven, MS) When well known Southaven real estate dealer Chuck Roberts made a guilty plea to bank fraud in Federal Court last week, lawyers, judges and the media weren’t the only ones watching.
Mississippi’s Real Estate Commission also had its eye on what happened in the Oxford courtroom.
Now, Commissioners say they’ve learned enough to launch an entirely new investigation into Roberts and his business.
It all surrounds how he spent bank loan money meant to develop a new Subdivision in Southaven, one that was never built.
”Since it was directly related to his real estate development at Cherry Hill subdivision, that will necessitate that the Real Estate Commission open a new investigation into the circumstances surrounding his plea,” said Robert Praytor with the Mississippi Real Estate Commission.
The Commission had already sanctioned Roberts for his deal to buy and sell land to the City of Southaven, for a new fire station, at a huge profit.
Roberts has been instructed not to comment on the matter on the advice of his attorney, but sources with knowledge of the situation say they’re as surprised as anyone about this new investigation and add they don’t know what else there is to uncover about his dealings.
Roberts' Attorney, Cliff Johnson says he and his client are "cooperating fully" with the Real Estate Commission and he believes the matter will be "resolved in short order."
He agrees, there's nothing new to learn about Roberts in the Federal Plea.
The Real Estate Commission will meet with it’s attorneys and investigators this week and take a close look at Roberts’ plea, and the negotiations that led up to it "We’ll make a decision as to how we’re to start our next investigation into his real estate activities."
Roberts' real estate license is already suspended for a year, no company can use his name, he has to complete 30 hours of education and will serve one year’s probation.