Wednesday, July 13, 2011
LITCHFIELD — A local developer has been arrested after allegedly taking hundreds of thousands of dollars in mortgages and promissory notes from the Litchfield Plantation Association.
Scott Edwin Trotter, 68, of Pawleys Island, was released from jail on bond this week after being arrested Friday, charged with grand larceny valued at $10,000 or more.
On June 27, Investigator Dustin Morris met with three members of the Litchfield Plantation Association who were reporting the theft of promissory and mortgage notes from that organization.
The members — Robert McMahan, Carol Kirby and Joe Johnston — said the notes were held by the Association as the lender.
The value of the notes has been redacted from the incident report and arrest warrant but a source close to the situation tells the Georgetown Times the value is between $700,000 and $1 million.
The members told Morris that Trotter, the former president of the Association, assigned all the notes from the Association to his company — Litchfield Plantation Buyout Group.
“The board members provided a copy of the assignment of promissory notes and guarantees and mortgages,” Morris wrote.
The documents show Trotter represented himself as the president of the Litchfield Plantation Association on April 27, when the transfer to his company took place.
Trotter was relieved of his duties as the Association’s president in February, the report states.
Trotter did not have authorization to make the transfer, the report continues.
McMahan, the attorney for the association, said Trotter still claims to the president of the organization but he was voted out on Feb. 26.
Trotter — with more than 30 years of experience in the real estate business— was a general partner in the completion of DeBordieu Colony and was the managing general partner of the Prince George development.
The Georgetown Times spoke with Trotter who said any comments would have to come from his attorney, Robert Lumpkin.
A message was left with a receptionist at Lumpkin’s office but the call has not been returned.