Jury acquits McMinnville real estate appraiser in fraud case
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April 7, 2006
CHATTANOOGA (AP) -- A federal jury in Chattanooga Friday acquitted a McMinnville real estate appraiser on all counts in a fraud case that involved a lumber mill sold by a state senator.
James B. Passons was accused of inflating an appraisal to help state Sen. Jerry Cooper.
Jurors deliberated the case against Passons for six hours Thursday and came back for about two hours Friday morning, then reported the not guilty verdicts.
Passons testified he did prepare an inflated appraisal of Cooper's property in Warren County, but only to provide the projected value with a rail spur included.
Passons had been indicted on bank fraud, mail fraud and fraud conspiracy charges.
There have been no charges against Cooper.
A Huntsville, Alabama, couple indicted with Passons pleaded guilty Monday to charges of fraud, money laundering and conspiracy.
Copyright 2006 by The Associated Press. All rights reserved.
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