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Two Men Sentenced for Unrelated Ponzi Schemes in Charlotte

The Winston-Salem Journal recently featured an article that described the sentencing of two Charlotte men who were allegedly engaged in separate Ponzi schemes. Mitchell Brian Huffman and Robert S. Moss, who both pleaded guilty in September 2011, were both recently sentenced for their separate charges of fraud.

Although the two alleged schemes are reportedly unrelated, both Charlotte men were accused of luring investors in with promises of big returns trading in the commodities futures market:

  • According to court documents, Huffman was accused of lying to investors about the kinds of returns his trading program was generating each year and claiming that he was seeing returns of up to 150 percent. Investors reportedly handed over $2.5 million in the alleged Ponzi scheme. He was sentenced to 60 months in prison and three years of supervised release, and he must pay an undetermined amount in restitution.
  • Moss was accused of luring investors into a Ponzi scheme by falsely claiming high returns on options trading, and he allegedly took in about $3.1 million from investors.Moss pleaded guilty to a charge commodities fraud and was sentenced to 57 months in prison and three years of supervised release. He has also been ordered to pay $1.46 million in restitution.

If you believe you have become the victim of commodities fraud or a Ponzi scheme, don’t wait until it’s too late to get help. Reach out to an experienced Ponzi scheme attorney with Meyer Wilson.

The information contained in The Firm’s posts on its blog, fraud alerts, investigations or elsewhere on the site is based upon information obtained from other sources including, but not limited to, news outlets and federal, state, and regulatory agency filings. All suspects and subjects of postings herein are presumed innocent until proven guilty in a court of law or administrative action and any and all crimes are alleged until a court or regulatory agency finds otherwise .

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