Man accused of local real estate scam arrested in California

The man accused of directing a North Myrtle Beach real estate scam has been arrested in California after five years on the run.

An FBI spokesman says Duwayne Woods was taken into custody in San Diego Thursday. The spokesman added that Woods will be returned to South Carolina to face felony wire fraud charges.

Prosecutors say woods financed the Bahama Island Project that caused dozens of people to lose millions of dollars in deposits and landed the two main partners in the deal, Jeff Shoup and Tommy Hix, in jail.

Investigators believe Woods took off with much of the depositors' money.

The FBI has been looking for him since 2007.

An arrest warrant was issued for Woods by a U.S. magistrate in Florence last September.