List of Huffman's assets grows

For two years, Kevin Scott has mailed a check to his landlord, J.V. Huffman Jr.

Scott found out Tuesday that Huffman is in the Catawba County jail under a $1 million secured bond, charged with four felony counts of securities fraud and four felony counts of obtaining property by false pretense.

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. About 500 people invested $25 million with Huffman's company, Biltmore Financial Group Inc., beginning in 1991 and ending Nov. 7 with his arrest.

Sitting on the front porch of his Newton home Tuesday, Scott said he lived in the home five years ago, when it was owned by one of Huffman's relatives. Two years ago, she wanted to sell it.

"She offered to sell it to me, and I didn't want to buy it," Scott said. "Mr. Huffman (Jr.) bought it, and she gave me his number. I've only spoken with him twice since then. Once to call and let him know who I was, and once to tell him my rent check would be a few days late."

Scott said Huffman didn't have a problem with that, and seemed nice on the phone. Scott's never had a problem with the house, and said Huffman's never been by to check on it. Huffman even did him a favor last Christmas.

"I mailed him my rent check last December, and he voided it and mailed it back to me and said it was a Christmas gift," Scott said. "That was my first Christmas renting from him. I was kind of hoping he would do that again this year."

Now that he knows Huffman is in jail though, Scott said he likely won't be getting his check returned to him.

With more than $4 million in Huffman's wealth already uncovered, the receiver appointed by the court to find the Claremont resident's assets said there is still more work to be done. A preliminary report was filed Monday. Huffman's assets include cars, properties in multiple states, jewelry, artwork, yard equipment, cash and more. Several of the assets don't have a determined value yet, including nine of the vehicles Huffman owned.

"We'll look at the Kelly Blue Book, and then go with the market demand for the values," said attorney John Langston, with the receiver's office. "We'll also have someone in the auto industry appraise them, as well."

Huffman's vehicles include three Mercedes, two Chevy trucks, a 2008 Aston Martin and a 1939 Cadillac, among others. Although the receiver doesn't have a value listed for Huffman's 2007 Prevost Motor Home Featherlight Conversion, Huffman had it insured for $825,000.

Langston said the receiver is also trying to determine the value of some of Huffman's property.

Although all the property Huffman owns in Catawba County is accounted for — the nine tracts of land are valued at more than $1.2 million together — the value of the two properties Huffman leased in Myrtle Beach, S.C., as well as his time-share in Orlando, Fla., hasn't been determined.

The receiver also is still waiting for more information about a piece of commercial property Huffman owns on Freedom Drive in Charlotte, worth $141,700.

"We received a letter that said the surrounding commercial property is contaminated," Langston said. "We don't know if this is, or not. It could be an underground storage tank that got rusty and leaked, it could be anything."

And although Scott rents one of the properties Huffman owns in Newton, Langston said he will not be forced out.

"The receiver has the authority to collect the rent on behalf of (Huffman). There would be no point to kick someone out on the curb while we're able to collect income," Langston said. "We don't want the house sitting empty."

He said the rent money will go into an account that will be distributed, along with the rest of the assets, among the victims at a later date.

Langston said the receiver is also working on the legalities of the contract with the Carolina Panthers. Huffman's company, Biltmore Financial Group Inc., leased one of the suites at the Bank of America Stadium for the Panthers' season for a deposit of $90,000.

Langston said the receiver was able to sell the tickets for the last two regular season games for face value.

"Food and alcohol weren't offered because they're catered by a separate entity, and we didn't want to run up a big bill," Langston said.

The suite doesn't include seating for playoff games, he said. The receiver is trying to get documents from the Carolina Panthers about the suite and the right to the deposit. One fact the receiver does know? Huffman signed a contract renting the suite through 2014. The $90,000 deposit is only for the 2008 season.

The receiver expects to supplement his preliminary report on or before March 31.

Langston said there could be a number of additional items in the report on March 31, because there are several smaller items to go through.

"There's quite a bit of electronics and personal property that needs to be appraised," he said. "With the jewelry, there's also quite a bit of it, so it will take a while."