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Ponzi scheme in Charlotte

wbtv.com

A Charlotte man accused of gaining more than $1 million in a Ponzi scheme was indicted this week.

Nickolas M. Godfrey is accused of operating the Ponzi scheme through his company Coast to Coast Business Funding, which he falsely represented was successfully generating substantial revenue by providing short-term cash advances to businesses.

Godfrey reportedly collected more than $1 million from at least 20 victims and attempted to solicit additional funds.

Godfrey is also accused in a tax evasion scheme from 2008 to 2015. He owned NJ Holdings, LLC, which he used in connection with Coast to Coast Business Funding to operate his Ponzi scheme, court document show.

He also owned and operated Alter Ego Salon and Day Spa and Blis Day Spa and Salon in Charlotte.

“Godfrey engaged in a scheme and artifice to defraud victims by making a series of false and fraudulent representations and deceptive half-truths of material facts, and concealing material information about his business Coast to Coast Business Funding,” court documents state.

Read more at wbtv.com

Image credit wbtv.com

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