Friday's Internet Edition, May 09, 2008.
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Tom Nesbit pleaded guilty to one count of felony obtaining property by false pretense.
The charge stems from a real estate deal Nesbit made with local attorneys Michael and Julie Parker.
Nesbit appeared in Davie Superior Court on April 7 with his lawyers, David Friedman and Dudley Witt of Winston-Salem.
Assistant District Attorney Greg Brown told the court that Nesbit had been indicted Nov. 10, 2005. At that time Nesbit was acting president of Fourth Street Management. Nesbit entered into a contract with the Parkers to sell them a building at 136 N. Main St. in Mocksville for $130,000. "The term was that the property be transferred to the Parkers clear and free," Brown said.
Brown said that Nesbit's warranty deed for the property indicated it was free and clear of all encumbrances. The proceeds check was deposited to Nesbit's corporate account by his wife, whom Brown said gave a statement that she knew of the contract to sell the property and that she knew there was a first mortgage on the property.
On Oct. 24, 2007 the Parkers were notified the property was being foreclosed on by the owner of the first mortgage. Brown said that the Parkers talked to Nesbit who said that he'd done nothing wrong and that the money had been spent.
Brown said the Parkers "have been made whole by property insurance and have incurred no financial harm."
Friedman told the court that Nesbit is an excellent attorney who's active in the community and his church. "I believe, despite this, that will continue to be his reputation in the community ... subscribe to the Davie County Enterprise Record, P.O. Box 99, Mocksville, N.C. 27028.