EFTA01299060.pdf

rdc
Entity: Southern Financial Services Inc.
Entity Information
Entity ID:
Entity Name: Southern Financial Services Inc.
Address: Asheville, NC. UNITED STATES
Event: • FRD - Fraud, Scams, Swindles
ASC - Associated with, Seen with
02/04/2011, U.S. Attorney Anne M. Tompkins announced that. James W. "Bill" Bailey. Jr. had his initial
appearance on three federal criminal counts, Securities Fraud, Mail Fraud and Filing False Tax Returns
Charges, which was filed in a Bill of Information in U.S. District Court in Asheville on February 1, 2010. The
counts against Bailey charge that he engaged in a "Ponzi" scheme from about January 2000 to December
2010 to defraud investors of more than $13 million. According to the Bill of Information, the defendant
founded and operated Southern Financial Services Inc, 1031 Exchange Services, LLC and AVL Properties,
LLC in Asheville. Court documents state that through Southern Financial Services Inc.. Bailey fraudulently
induced clients to deposit monies and purported to provide asset management. IRA accounts, and wills and
trusts services.
• TAX - Tax Related Offenses
ASC - Associated with. Seen with
02/04/2011, U.S. Attorney Anne M. Tompkins announced that James W. "Bill" Bailey, Jr. had his initial
appearance on three federal criminal counts, Securities Fraud, Mail Fraud and Filing False Tax Returns
Charges, which was filed in a Bill of Information in U.S. District Court in Asheville on February 1, 2010. The
counts against Bailey charge that he engaged in a "Ponzi" scheme from about January 2000 to December
2010 to defraud investors of more than $13 million. According to the Bill of Information, the defendant
founded and operated Southern Financial Services Inc, 1031 Exchange Services, LLC and AVL Properties,
LLC in Asheville. Court documents state that through Southern Financial Services Inc.. Bailey fraudulently
induced clients to deposit monies and purported to provide asset management, IRA accounts, and wills and
trusts services.
• SEC - SEC Violations (Insider Trading. Securities Fraud)
ASC - Associated with, Seen with
02/04/2011, U.S. Attorney Anne M. Tompkins announced that, James W. "Bill" Bailey. Jr. had his initial
appearance on three federal criminal counts, Securities Fraud, Mail Fraud and Filing False Tax Returns
Charges, which was filed in a Bill of Information in U.S. District Court in Asheville on February 1, 2010. The
counts against Bailey charge that he engaged in a "Ponzi" scheme from about January 2000 to December
2010 to defraud investors of more than 513 million. According to the Bill of Information, the defendant
founded and operated Southern Financial Services Inc, 1031 Exchange Services, LLC and AVL Properties,
LLC in Asheville. Court documents state that through Southern Financial Services Inc., Bailey fraudulently
induced clients to deposit monies and purported to provide asset management, IRA accounts, and wills and
trusts services.
Source Information
RDC URL: https://grid.rdc.com/v/ss/entity.html?entityld=4b538c2393dee2c5d3f3d53eb346cc4
Source Name: DOJ US Attorneys Offices Press Releases 2009 to 2012. 05/31/2011
Source URL: http://www.jusece.gov/usao/offices/index.html
Entity URL: http //www.justice.gov/usao/ncw/press/billbailey.html
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IDENTIAL
CONFIDENTIAL - PURSUANT TO FED. R.WN(F DB-SONY-0027371
EFTA_00 175049
EFTA01299060