The noose is tightening on Mike Easley and his co-conspirators. With the N&O getting its hands on the settlement documents for the coastal lot transaction Carolina Journal’s Don Carrington started digging on back in 2006 there is now no doubt that the Easleys pocketed $135K in cash thanks to their developer buddies. Such deals have been the preferred method for developers to enrich politicians across North Carolina.
The Easleys — lawyers both — knew exactly what they were doing in the Cannonsgate deal. Nearby lots were going for $699,000, yet their recorded sales price for a bigger lot was $549K. The settlement docs now show that price was further cut by a “seller’s discount” of $137K, bringing the sales price down to $412K. Because the Easleys got a loan for $494K and put down a deposit of $54K, they walked away from the settlement with a net of $135K — plus the deed to a prime coastal lot valued at $700K. All thanks to their good buddies they’d soon appoint to state government positions.
What a great scheme. Until you get caught.
