ANDERSON, S.C. - A guilty plea last weekend from a Carolina Investors' former president on fraud charges raises questions about what will happen to others facing indictments on similar charges, notably Earle E. Morris Jr.

The former lieutenant governor and state comptroller general was the company's chairman when it went bankrupt last year. That $275 million debacle cost about 8,000 people some or all of their life savings. The criminal case against Morris is scheduled to begin in October.

Prosecutors won't say what role Larry Owen, who pleaded guilty Saturday to 22 counts of misleading investors, may play in the future.

Attorney General Henry McMaster said an investigation is continuing and there may be additional indictments.

Joel Collins, Morris' lawyer, said he would like to speak with Owen and "see what his testimony would be" at that trial.

"We don't know what's going to happen" in court, Collins said.

Part of the strategy in defending Morris would be question the roles played by leaders at HomeGold Financial Inc, which controlled Carolina Investors, in influencing Morris to tell investors that the company was on solid ground. Morris "isn't real astute" when it comes to business, Collins said. He relied on capable, knowledgeable people to run the company, Collins said.

Investors said they relied on Morris's reputation and word when they decided to put their money into Carolina Investors. But how much of a role he had in the day-to-day operations has not been clear.

One thing seems certain.

Owen's attorneys, Bill and Jim Bannister, said last week that Owen, who now awaits sentencing, would not testify in the yet unscheduled criminal trial of his wife, Anne Owen. She was a Carolina Investors vice president and the third person indicted by the state grand jury on securities fraud charges.

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Information from: Anderson Independent-Mail, http://www.andersonsc.com/