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Huffman family, investors speak out

Lavish lifestyle reflected in opulent house

STATEMENT FROM J.V. HUFFMAN JR.'S FAMILY

With heavy hearts, the extended family of J.V. Huffman Jr. would like to offer our sincerest apologies to our friends, our community and all investors affected by the events of the last several days. There are no excuses for what has taken place. Many families’ lives have been altered in a dramatic way. We share in that sudden shock and are praying that good may come from each situation.

As Christians, we are saddened for the negative effect of a fellow Christian’s actions which will bring so many down. Our only hope is in Jesus Christ — for our salvation, daily help and healing for each broken future. And since Christ died for all, and for all sins, we forgive J.V. for what he has done and hope we can be part of the healing process for so many others. We have new challenges ahead in our lives and trust solely on the Lord to get us through. He is still in control.

Thank you to the many people who have come to us, offering support and love. We ask for your continued prayers for all who have been affected. Please pray that God will show His power and grace to each family that has experienced a loss. May we all come through this stronger, closer to each other as family, friends and community, and closer to the Lord Jesus Christ.

Sincerely,

The Huffman family

HUFFMAN DETAILS

J.V. Huffman Jr., 45, president of Biltmore Financial Group Inc., was arrested Nov. 7 and charged with four counts of felony securities fraud and four counts of felony obtaining property by false pretense. He is in jail under a $1 million secured bond.

Huffman is accused of issuing promissory notes through his company. He told investors the funds would be used to buy and sell real estate mortgages or deeds of trust. Investigators with the N.C. Secretary of State’s office believe Huffman took investors’ money for personal use.

Do you know J.V. Huffman, Jr?

Do you know J.V. Huffman, Jr? Were you a client? Contact us at 828-322-4510 or e-mail us at news@hickoryrecord.com.

U.S. Securities Exchange Commission Complaint for Injunctive Relief

Consent order imposing permanent injunctions, order appointing receiver, order freezing assets, order prohibiting destruction of documents and order expediting discovery

By Sarah Newell Williamson | Hickory Daily Record

Published: November 13, 2008

CLAREMONT - Contractors hired by J.V. Huffman Jr. to work on his home on Wishing Well Lane in Claremont were afforded a look into his home many others were not.

What the employees of U.S. Mechanical Inc. saw was a lavish lifestyle that few could hope to achieve.

The opulence was everywhere — new cars every few months, trips to Alaska and Disney World, cruises, celebrity memorabilia and a home that spared no expense. That included $3,000 towel warmers and a $3,000 showerhead with lights and mirrors that U.S. Mechanical installed, said Richard Porter, president of U.S. Mechanical.

"He said 'money is not an issue, spend all you want.' And we did," Porter said. "Everything was best of the best."

Although Porter and others who worked with him marveled at Huffman's home, they wondered how he afforded everything.

"We worked here for four years and wondered how he made that kind of money," said Hoyle Howard Jr., an employee of U.S. Mechanical. "Now we know."

Porter said like so many others, he trusted Huffman. Porter said when you work on a person's home and see them day-in and day-out, you think you know them. He invested money in Huffman's company, Biltmore Financial Group Inc., as well.

"I guess I was paying him to work," Porter said.

He's since talked to his accountant and realized the financial nightmare Huffman's placed him in didn't stop when Porter learned the money he gave Huffman was gone.

"I was told all the money I put in, I may have to pay taxes on it," he said.

Porter said he and others in his company did heating and air work on Huffman's home in Claremont, as well as his condo in Myrtle Beach, S.C., and one in Boone. After spending four years in Huffman's homes, he got to know Huffman pretty well. Huffman even invited him to a Carolina Panthers game.
Huffman said he had $80,000 season box seats.

At the time, Porter felt lucky to be going to the game as Huffman's guest and sitting in such great seats. Now, he said he realized he was paying for his own ticket.

Huffman was known as a generous man, giving to his church and to the victims of Hurricane Katrina, volunteering his time for prison ministry and starting Bible study at various organizations. Porter said with hindsight, that was just one more side of him.

"That was just part of his scheme, to show he's a giving man," he said.

Porter was spending more time than usual in Huffman's home the last few months because Huffman said he wanted all the heating and air work to be finished by Thanksgiving. He'd already installed heating on Huffman's wraparound porch and 36-inch plasma TVs in the corners. Huffman wanted the floor of the porch heated, as well.

Porter has some of his equipment and supplies in Huffman's home. With Huffman in jail and everything in the house frozen by the state, he can't get to it. His business also hasn't been paid for the work they did recently, either. Porter's hoping to get into the house Friday to remove materials that he can show invoices for. For now, that's the only compensation he can hope for.