Caveat:  We can’t figure out this land deal from the News report.  Here it is:

"Developers behind the failed Pendleton Station project are firing back in court documents against allegations that they misused loan money.

Benjamin Daniel Sr., Benjamin Daniel Jr., Elizabeth Daniel and Thomas Daniel, the family members who ran Pendleton Station LLC, Coastal Plains Development, and the project’s major suppliers, denied claims that they misused money from Enterprise Bank of South Carolina and allege that the bank’s top officials were conspiring against them.

“I look forward to seeing what evidence they have to support it,” said Tom Dudley, a Greenville attorney who represents the bank.

Enterprise Bank says the Daniels and their related companies owed it more than $5.5 million at the beginning of the year.

But the family’s court filings say Enterprise Bank refused to allow construction loans on 10 units at Pendleton Station to be closed. Those units would have brought in $1.6 million. Court filings claim that the bank agreed to give Pendleton Station more money if William Spence, chief financial officer at Coastal Plains Development, cosigned for the loan and if the Daniels offered a piece of Daniel Island property worth about $750,000 as additional collateral.

William Cutchin represented the family and Mr. Spence in the transaction, but at the closing he presented sale papers to Ms. Daniel instead of a secured loan.

Under this new deal, the property was to be sold to Mr. Spence for $300,000, and the bank would pay Pendleton Station’s outstanding debts. When the Daniels could repay Mr. Spence, he would convey the land back.

The latter part of the arrangement never made it onto paper. When the family offered to pay Mr. Spence, he refused to sell it back for less than market value, according to court filings.

Mr. Daniel Sr. was hospitalized for cancer treatment at the time, and the filing claims that the bank and other parties involved in the transaction conspired to force Ms. Daniel into a vulnerable position so she would give them the property at less than half its value.

A similar situation occurred with property Mr. Daniel Sr. was developing on Lake Murray called The Club at Plantation Point, according to the family’s filing.

The family also accuses Mr. Cutchin of attorney malpractice for not advising Ms. Daniel during the land transactions. Mr. Henry and Mr. Mathias are charged with conspiracy. "