Asheville man guilty in 13 million Ponzi scam
February 22, 2011
Total Loss:
$13 million
A city businessman has pleaded guilty to running a Ponzi scheme that cheated investors out of $13 million over the last decade, according to federal court papers. James W. “Bill” Bailey Jr. told the court he was guilty of securities fraud, mail fraud and filing false tax returns.
Source:
Citizen Times
Posted in:
Check Fraud