An alert was issued for Southern Financial LLC, operated by James W. 'Bill' Bailey, Jr., for fraudulent activities including securities fraud, mail fraud, and filing false tax returns. Bailey allegedly ran a Ponzi scheme defrauding investors of over $13 million through Southern Financial Services Inc., 1031 Exchange Services, LLC, and AVL Properties, LLC in Asheville. The alert highlights SEC violations and tax-related offenses.
documents/vol00010-efta01355999-pdf.pdf
{"title":"Alert for Southern Financial LLC","key_people":["James W. 'Bill' Bailey, Jr.","Anne M. Tompkins"],"document_date":"2018-02-22","document_type":"government","key_locations":["Asheville","VIRGIN ISLANDS, U.S."],"document_subtype":"alert","key_organizations":["Southern Financial LLC","Southern Financial Services Inc.","1031 Exchange Services, LLC","AVL Properties, LLC","DOJ US Attorneys Offices"],"reference_numbers":["GCIS 00000483882","Alert ID: 12737031.11622715.64747171"]}