A Hilton Head Island man's hearing on accusations he used his investors' money to pay for personal expenses has ended, a state Attorney General's Office spokesman confirmed Monday.
John McIntyre, former manager of Silver Oak Land Management, met last week with officials at the Attorney General's Office in Columbia to finish a hearing that had started in July, spokesman Mark Powell said.
McIntyre requested a hearing with the Attorney General's Office in late May to dispute 39 alleged violations the office's Securities Division cited in an April 19 cease-and-desist order against McIntyre and Silver Oak Land Management.
The cease-and-desist order alleged McIntyre used investors' money to pay for personal expenses, such as shopping trips and pet care, and concealed it by mislabeling them. McIntyre allegedly took the money from Silver Oak Energy, a startup biofuel company and a subsidiary of Silver Oak Land Management.
The hearing ran over its original scheduled date on July 30, eventually needing four days to finish. McIntyre met with officials again from Oct. 1 to Oct. 3, concluding the hearing at 5 p.m. Thursday, Powell said.
A hearing officer will decide McIntyre's case, but there is no timetable for a decision, Powell said. McIntyre could be ordered to pay as much as $10,000 for each violation, plus the cost of the investigation.
Follow reporter Matt McNab at twitter.com/IPBG_Matt.