In 2000 and 2001, the former president of an obscure bank in the western end of North Carolina admitted to FBI agents that he had violated federal banking laws. He also implicated 11th District [Republican] U.S. Rep. Charles H. Taylor of Brevard, who founded Blue Ridge Savings Bank and was chairman of its board of directors.
The banker, Hayes C. Martin of Asheville, and a major borrower, Charles E. "Chig " Cagle, a political confidant of Taylor, have pleaded guilty to scheming together to defraud the bank and launder money. In FBI interviews, Cagle also said Taylor was involved.
Taylor, however, has not been charged. He was not subpoenaed before the federal grand jury that indicted the others. And the FBI hasn't interviewed him.
Golly! Imagine if this were an obscure land deal in Arkansas!