North Myrtle Beach businessman arrested, charged with stealing thousands in scam, police say
A North Myrtle Beach businessman was arrested Monday morning after embezzling thousands from clients over the last year, according to arrest warrants.
North Myrtle Beach police arrested Walter Pigg, 40, around 9 a.m. Monday and charged him with six counts of breach of trust with fraudulent intent.
According to arrest warrants, Pigg, who owns Keye Beach Rentals in North Myrtle Beach, withheld close to $25,000 overall in rental money from six property owners over the last year. Police discovered Pigg, who was responsible for collecting rent from tenants and distributing it to condo owners on a monthly basis, collected rent though personal checks and credit cards, but as of June, no money had been paid to any of the property owners, the warrant states.
Pigg deposited a renter’s more than $2,000 check into his personal account and spent it at The Big “M” Casino in Little River and Harrah’s Casino in Cherokee, North Carolina, the warrant states. One condo owner reported they haven’t received any payments since last June, while others said they haven’t been paid since November.
Pigg, who is currently a suspect in numerous other cases involving his alleged role in unpaid rental proceeds to property owners, has been under investigation by North Myrtle Beach, S.C. Law Enforcement Division and other agencies for several months, according to North Myrtle Beach Safety Director Jay Fernandez.
Fernandez told The Sun News Pigg could face additional charges as police discover more victims.
Pigg was also arrested last month and charged with breach of trust with fraudulent intent after allegedly stealing over $17,000 from a Homeowners Association for personal use. According to police, Pigg withdrew the HOA money through ATM and debit purchases, without HOA approval, to spend at The Big “M” Casino in Little River and Harrah’s Casino in Cherokee, North Carolina.
He was arrested on June 7 and released from J. Reuben Long Detention Center the following day on $10,000 bond.
Police launched the investigation after North Myrtle Beach officials received nearly three dozen complaints earlier this year outlining Pigg’s alleged misconduct and unethical business practices since purchasing Keye Beach Rentals, a 55-unit rental agency located at 601 Hillside Drive, last May.
Pigg officially closed his agency in February after his property manager’s license was suspended by the S.C. Real Estate Commission. Pigg later surrendered his business license to the city.
About a dozen property owners who rented condos to Keye Beach Rentals told The Sun News in February how Pigg failed to pay them on time when he first bought the business, and later refused to pay them altogether. Pigg also restricted owners from overseeing rental activity, double-booked units, charged renters higher rates without the condo owners’ knowledge, and left units dirty, despite charging owners for cleaning services, owners told The Sun News.
Pigg reportedly continued to showcase their rentals and make reservations through the Keye Beach Rentals website even after losing his license and owners taking their business to another rental agency and changing their locks.
The Sun News also spoke with several vacationers renting condos through Keye Beach Rentals who arrived on various weekends to the vacant rental agency only to discover they had nowhere to stay despite having their vacations paid in full. Vacationers traveling from New York, Ohio, Michigan and Canada said they rent condos annually and planned their vacations a year in advance.
According to police reports filed from January through April, vacationers also found their credit cards were repeatedly charged but their reservation was either canceled, double-booked or the unit was no longer associated with Keye Beach Rentals.
The Sun News spoke to Pigg’s lawyer, Kirk Truslow, back in February, when he attested that Pigg had done nothing wrong and those who filed complaints were seeking vengeance.
Pigg was released from J. Reuben Long Detention Center Monday afternoon on $1,000 bond.
This story was originally published July 1, 2019 at 11:15 AM with the headline "North Myrtle Beach businessman arrested, charged with stealing thousands in scam, police say."
