NC man arrested in disguised Ponzi scheme

Print
Email
|

by The Associated Press

WCNC.com

Posted on January 30, 2014 at 4:38 PM

HIGH POINT, N.C. (AP) -- Police in High Point have arrested a man who they say disguised a Ponzi scheme as a used-car dealership and conned people out of $350,000. 

The High Point Enterprise reports (http://bit.ly/LeZydq ) 38-year-old Jason Nicholas James was arrested at a Greensboro motel. 

Det. Kim Rieson said investigators determined that James used his brother's identity to get utility service, rental property and a license to sell cars. Rieson said someone else told police they were scammed out of more than $330,000, thinking they were investing in a used-car business.  

Rieson said James is also wanted in Ohio, and in Greensboro. 

James, who was arrested Monday, is jailed under a $1.3 million bond. He will be extradited to Ohio after facing charges in North Carolina. It's not known if he has an attorney.
 

Print
Email
|