Prosecution rests in securities fraud case

The prosecution has rested its case in the trial of former HomeGold Financial Inc. chairman Jack Sterling.
   
Prosecutors presented 14 days of testimony against the reenville businessman, charged with securities fraud in the collapse of HomeGold and its subsidiary Carolina Investors.
   
About 8,000 investors lost $275 million was the companies went bankrupt.
   
The Greenville News reports several former executives have testified against Sterling, saying he knew the companies were in bad shape, but lied so people would keep investing.
   
The 70-year-old businessman is expected to testify in his own defense. Sterling’s attorney says he did nothing criminal and fought for the firm’s investors until the end, losing more than $16 million of his family’s money.