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Huffman case continued; DA expects more indictments

Gaither also seeks special court session.

By Sarah Newell Williamson | Hickory Daily Record

Published: November 19, 2009

NEWTON - The case for a Claremont man accused of running a large-scale Ponzi scheme has been continued until March.

J.V. Huffman Jr., 45, was scheduled to appear in court Nov. 16. His case was not called to trial and his case was held open, according to the district attorney's office.

Huffman is accused of lying to neighbors, family and friends for 17 years, telling them he bought and sold securities as he took millions of dollars from them to pay for his lavish lifestyle in a Ponzi scheme.

According to U.S. Securities and Exchange Commission documents, up to 500 people invested $25 million with his company, Biltmore Financial Group Inc., beginning in 1991 and ending Nov. 7, 2008, with his arrest.

Huffman was indicted by a grand jury on 14 counts of felony security fraud, 14 counts of obtaining property by false pretense and one count of possession of a dangerous weapon by a prisoner. He's in jail under a $2,003,000 secured bond.

On Thursday, District Attorney Jay Gaither said the case has been continued to a date in March, and he is seeking a special court session with a judge who is specially assigned to the case.

A special session is a court session that has not previously been scheduled.

Gaither said he also anticipates additional indictments against Huffman prior to the March court date.