Case delayed for accused Ponzi operator

J.V. Huffman Jr. now scheduled to appear in court Jan. 25

By: Sarah Newell williamson | Hickory Daily Record
Published: January 04, 2010

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Newton --

Accused Ponzi operator J.V. Huffman Jr.'s court case was moved to later this month.

Huffman, 46, was scheduled to appear in court Monday morning. His attorney, Nathan Taylor, of Anderson Terpening in Charlotte, asked the case be held open. Huffman's next court date is Jan. 25, when he is scheduled to appear on 14 two-count indictments on charges of obtaining property by false pretense and felony security fraud.

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 is in jail under a $2,003,000 secured bond. He also has been charged with one count of possession of a dangerous weapon by a prisoner.