James Thomas Bramlette, 42, of Salt Lake City, Utah, pled guilty for his alleged role in a fraud scheme at Melrose Resort on Daufuskie Island. He will be sentenced at a later date.
According to the news release, Bramlette allegedly borrowed $17.5 million from a Dutch investor in 2011 to purchase the Melrose Resort. He raised an additional $10 million from other investors.
Bramlette thought he could resell the resort soon after purchasing it, but repeatedly failed, according to the news release.
“Bramlette could not make the mortgage payments to the Dutch lender, which led to a $27 million foreclosure judgment in 2014,” the U.S. Attorney’s Office said in the news release. “Bramlette lost further control of the resort in October 2014 when he pledged…