March 12, 1998 in Nation/World

Infomercial Couple May Be Freed Today

Associated Press
 

A couple who offered a get-rich real estate scheme through late-night infomercials was forced Wednesday to spend another night in jail to await the arrival of $3 million in bail.

William McCorkle and his wife, Chantal, were expected to be released from jail today after the money was transferred from Grand Cayman to a U.S. Marshal’s account.

The two have been in jail since Tuesday when they voluntarily returned to Florida from Mexico to face a 90-count indictment charging them with fraud and the laundering of $7 million to the Cayman Islands.

The couple was unable to make bail since their U.S. assets were frozen following a May raid of their home and offices. But U.S. Magistrate Judge James Glazebrook said they could use the $3 million overseas if it was transferred to the United States.

The McCorkles are accused of misleading consumers through infomercials, seminars and videotapes on a method of making millions on foreclosed real estate.

© Copyright 1998 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.


Thoughts and opinions on this story? Click here to comment >>

Get stories like this in a free daily email