The Claremont man accused of running a large-scale Ponzi scheme for years, taking millions of dollars from investors, faces 21 additional felony charges.
J.V. Huffman Jr. was indicted Monday on 10 charges of felony securities fraud, 10 charges of obtaining property by a false pretense and one felony charge of possession a dangerous weapon by a prisoner.
He was already facing four charges of securities fraud and four charges of obtaining property by a false pretense. He has pleaded not guilty, and his next court date for these eight charges is Monday, Aug. 24.
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 through his company, Biltmore Financial Inc.
His new charges are based on additional investigative information from law enforcement and the N.C. Secretary of State's office, said Eric Farr, with the district attorney's office.
Twenty of the indictment counts are investor-related, Farr said. The charges are based on investments eight couples and two individuals made with Huffman between November 2003 and November 2008.
Huffman was arrested Nov. 7. The indictments say some of the investors were new, giving Huffman money as recently as June 24, 2008. The investments with Huffman, on which the new indictment charges are based, range from $127,000 from the couple that invested most recently with Huffman, to more than $350,000.
Huffman was also indicted on possession of a dangerous weapon by a prisoner charge. The charge stems from Huffman having a razor blade with him in his jail cell on May 23, according to the indictment.
The razor blade was found during a search of Huffman's cell, said Chief Deputy Coy Reid with the Catawba County Sheriff's Office.
"We don't know how long he had it," he said. "We do periodic searches of inmates' cells, and discovered it. He had it hidden in his Bible."
When asked, Huffman said the razor was not a weapon, it "was only used to cut his hair," according to the statement on the police report.
Inmates are given single-blade, disposable razors to shave with, which are then collected after they use them, Reid said. They get new ones every two days, but they don't keep the razors in their possession during that time.
Although Huffman has periodically had another inmate in his cell, Reid said they try to keep him by himself. Reid said he did not have anyone else with him when the razor was found. Huffman was given three days solitary confinement as punishment.
WHAT'S NEXT?
J.V. Huffman Jr.'s next court appearance is Monday, Aug. 24, for the initial eight charges.
A court date has not yet been set for Huffman's additional 21 charges.
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