Statesville, North Carolina Businessman Charged with Fraud
Daniel Harold Williford, a Statesville, North Carolina businessman, has been charged with perpetrating a $44 million fraudulent investment scheme that defrauded over 200 victims in North Carolina and elsewhere.
Court documents reviewed by securities attorneys Jason Kane and Joe Peiffer allege that Daniel Williford told his victims he operated a number of telecommunications and IT ventures, including Velocenet, Broadband Leasing, and Connect, Inc.
Investigation by attorneys Jason Kane and Joe Peiffer established that none of Williford‘s entities listed above had filed registration statements for securities offerings with the federal securities regulators.
Williford promised investors that he would invest their money in wireless Internet equipment, Internet towers, and other telecommunications assets and ventures, according to the federal prosecutors’ charges.
In reality, Williford stole most of the money he raised from his victims, the prosecutors alleged.
Of the $44 million he raised, Daniel Williford only invested $7.7 million in his companies and spent the rest of the money to support his lifestyle and pay off earlier investors, in Ponzi-scheme fashion, according to the indictment reviewed by attorneys Kane and Peiffer.
Securities lawyers Jason Kane and Joe Peiffer often assist investors in fraudulent schemes. They take most cases on behalf of investors on a contingency fee basis, advance the case costs, and only get paid for costs and fees out of any amounts recovered for investors.
Investors in Daniel Williford’s alleged scheme may contact the Peiffer Wolf law firm to provide more information about the scheme and receive a free, no-obligation evaluation of their recovery options, toll free at 585-310-5140.